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World Oil Prices Drop 5% on Hopes over US-Iran War Talks

May 7, 2026,
4:07 PM
By
World Oil Prices Drop 5% on Hopes over US-Iran War Talks
A digital board displaying fuel prices near a petrol station in Sofia, Bulgaria. AFP
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Global oil prices fell more than five percent Thursday on optimism over talks aimed at ending the Middle East war. International benchmark, Brent North Sea crude, shed 5.1 percent to $96.06 a barrel. The main US contract, West Texas Intermediate, lost 5.5 percent to $89.87. AFP

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Brent North Sea CrudeEnding US-Iran WarOil PricesUS-Iran NegotiationsUS-Iran TalksUS-Iran WarWest Texas Intermediate

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