Oil prices fell despite anticipation of "resumed negotiations"

Oil prices fell, continuing a downward trend that has persisted for days, amid expectations that upcoming talks between Iran and Qatar could lead to the reopening of the strategic Strait of Hormuz and reduce supply disruptions stemming from the Middle East war. Brent crude futures dropped 60 cents, or 0.7%, to $87.24 per barrel, marking a fourth consecutive day of declines. West Texas Intermediate (WTI) crude futures also fell, dropping 56 cents, or 0.7%, to $81.67 per barrel, extending their decline to a fifth consecutive day.