Crude oil prices fell more than 1% to $66.54 on Friday after a report said the US and Iran could resume nuclear talks in Oslo next week.
This comes after the US carried out military strikes on Iran’s nuclear sites last month. If the talks lead to an agreement, sanctions on Iranian oil could be lifted, which would boost global oil supplies and lower prices. Iran has some of the world’s largest oil reserves.
A key issue in the talks will be Iran’s uranium stockpile. Iran is said to have 400 kilograms of enriched uranium at 60%, close to the 90% needed for nuclear weapons.
