Odaily Planet Daily report: Due to market expectations that the United States and Iran will soon hold new negotiations, international crude oil futures prices fell significantly on the afternoon of East Coast Time, June 2, at the start of the new trading week. By 7:00 p.m. East Coast Time on June 2, the price of West Texas Intermediate crude oil for September delivery on the New York Mercantile Exchange dropped to a low of $74.78 per barrel, down $5.89 from the previous trading day’s closing price, a decline of 6.96%; the price of Brent crude oil for October delivery fell to a low of $81.55 per barrel, down $6.38 from the previous trading day’s closing price, a decline of 7.26%. U.S. President Trump told reporters aboard Air Force One on the afternoon of June 2 that the United States would hold negotiations with Iran the following day. The day before, Trump announced the cancellation of planned military strikes against Iran. (Xinhua News Agency)
U.S.-Iran talks expected to begin; crude oil prices drop sharply
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Summary
U.S.-Iran talks scheduled for Tuesday pushed crude oil prices lower in the futures market. U.S. light crude futures for September delivery fell to $74.78 per barrel, a 6.96% decline from the previous day. Brent crude for October delivery dropped 7.26% to $81.55. President Trump confirmed the talks on Air Force One after canceling a planned military strike. With geopolitical tensions easing, altcoins to watch may see renewed interest as traders shift their focus.
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