SINGAPORE (Reuters) – Oil prices fell more than 1% at Monday’s open in Asia after nuclear talks between the United States and Iran progressed, easing supply concerns.
Brent crude futures slipped 78 cents, or 1.15%, to $67.18 a barrel at 2212 GMT while U.S. West Texas Intermediate crude was at $63.91 a barrel, down 77 cents, 1.19%.
The two countries agreed on Saturday to begin drawing up a framework for a potential nuclear deal, Iran’s foreign minister said, after talks that a U.S. official described as yielding “very good progress.”
(Reporting by Florence Tan; Editing by Cynthia Osterman)
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