- BIST10011,722-2.89%
- USD49.45+0.05%
- EUR55.62+0.37%
- GOLD4,181.10+0.26%
- INTEREST37.00%-1.00
- BITCOIN81,434-0.08%
- October 17, 202614°
- BIST10011,722-2.89%
- USD49.45+0.05%
- EUR55.62+0.37%
- GOLD4,181.10+0.26%
- INTEREST37.00%-1.00
- BITCOIN81,434-0.08%
- October 17, 202614°
Brent crude falls to $104.3 after Iran presents seven-day plan to U.S.
Brent crude futures fell 2.1% to $104.3 per barrel on Friday. U.S. crude also lost 2.3% as Iran’s seven-day plan presented to the United States and the possibility of a ceasefire affected oil markets.
Oil prices fell on Friday. Brent crude futures declined 2.1% to $104.3 per barrel, while U.S. crude futures fell 2.3% to around $92.4.
Developments pointing to the possibility of a ceasefire between the United States and Iran contributed to the decline in prices. Iran presented the United States with a seven-day plan aimed at ending the conflict.
Plan covers the Strait of Hormuz and nuclear talks
Iran’s proposal includes reopening the Strait of Hormuz and continuing nuclear talks. Iranian Foreign Minister Abbas Araghchi said at a news conference in New York held as part of the 81st session of the United Nations General Assembly that the plan closely resembled the commitments in the memorandum of understanding reached between the United States and Iran in June but broken down shortly afterward.
Araghchi said Iran was ready to implement the plan if Washington accepted the proposal.
The U.S. administration has conducted positive and constructive contacts through mediators in the negotiations but will not rush to reach an agreement.
Dispute over navigation in the Strait of Hormuz continues
Thousands of people have been killed in the conflict that began on February 28 with the war waged by the United States and Israel against Iran. The authorities in Tehran also carried out attacks on Israel as well as U.S. bases and positions in the region.
Although the United States later carried out attacks on targets in Iran, the memorandum signed between the two countries in mid-June did not lead to progress in the negotiations. The deadlock in the talks was linked to disputes over navigation in the Strait of Hormuz, a major route for global energy and goods shipments.
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