Oil prices fall 4% on Iran talks
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Brent crude fell 3.9% to $80.47 a barrel, while West Texas Intermediate crude dropped 4.6% to $76.67 by 11:19 a.m. ET.
Brent crude fell 3.9% to $80.47 a barrel, while West Texas Intermediate crude dropped 4.6% to $76.67 by 11:19 a.m. ET.
Prime Minister Anthony Albanese is set to allocate $4 million towards a feasibility study for a new oil refinery in Western Australia.
Oil extended its decline after President Donald Trump said the US and Iran were engaged in talks to try to end the Middle East conflict once again. Jorge Leon, Geopolitical Analysis Head at Rystad Energy spoke to Bloomberg's Abeer Abu Omar on Horizons Middle East & Africa about the best & worst-case scenario for oil moving forward.
West Texas Intermediate prices dropped after the United States paused military action against Iran.
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