Oil prices decline further after Trump claims ‘deep talks’ are underway with Iran

Oil prices continue to decline as Brent crude and West Texas Intermediate front-month contracts fall. This downward trend follows claims from Trump that deep talks are underway with Iran, leading to a pause in fighting. The reduction in geopolitical tensions is expected to stabilize oil markets by lowering the risk of supply disruptions and dampening the prospects for price spikes, as reported by Crypto Briefing regarding the current state of global energy markets.