Khaberni - Oil prices dropped 2% on Thursday after the United States and Iran agreed to hold talks in Oman on Friday, easing fears of a potential military conflict that could disrupt supplies from this pivotal oil-producing region.
Brent crude futures fell $1.44 or 2.07% to $68.02 a barrel by 0335 GMT. West Texas Intermediate crude in the US dropped $1.34 or 2.06% to $63.80.
Oil prices had risen by about 3% on Wednesday after a media report suggested the possible collapse of the talks scheduled between the United States and Iran on Friday. However, officials from both sides later stated that the talks would proceed on Friday despite the lack of an agreement on the topics on the agenda.
