By Adam Clark
Oil prices continued to fall early Thursday amid ongoing negotiations over a potential U.S.-Iran peace deal.
Brent crude futures, the international standard, were down 0.3% at $100.95 a barrel. West Texas Intermediate futures were down 0.5% at $94.61 a barrel. Brent settled at its lowest level since April 21 on Wednesday following multiple reports a deal between Washington and Tehran could be close.
Iran and the U.S. are working with mediators to create a framework for a monthlong period of discussions over ending the war with talks between the two parties potentially resuming as early as next week, The Wall Street Journal reported, citing people familiar with the matter.
"We've had very good talks over the last 24 hours, and it's very possible that we'll make a deal," President Donald Trump told reporters Wednesday.
Iran's foreign ministry spokesman Esmaeil Baqaei said the proposal remained "under review" and Tehran would communicate its position to mediator Pakistan.
"The market is betting on an agreement, mostly as a continuation of the war is not a stable outcome, and does not really suit either side," wrote Padhraic Garvey, who leads ING's research team for the Americas. "But we're not as comfortable as the market currently is."
Write to Adam Clark at adam.clark@barrons.com
This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal.
(END) Dow Jones Newswires
May 07, 2026 04:08 ET (08:08 GMT)
Copyright (c) 2026 Dow Jones & Company, Inc.
