World oil prices drop 5 percent on hopes over US-Iran talks

World oil prices drop 5 percent on hopes over US-Iran talks Global oil prices fell more than five percent on Thursday, amid hopes that ongoing talks would bring an end to the war on Iran. 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.

Global oil prices fell more than five percent on Thursday, amid hopes that ongoing talks would bring an end to the war on Iran.

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.