Oil prices fall amid hopes of US-Iran deal

Oil prices fall amid hopes of US-Iran deal Oil prices plunged after Qatar said US-Iran negotiations had resumed, and the US treasury secretary suggested a deal could happen "today or tomorrow". These announcements eased concerns over crude supply disruptions that had sent prices soaring in recent months. The main US oil contract, West Texas Intermediate, dropped five percent to $76.32 a barrel, while the international benchmark Brent North Sea crude fell back below $80 a barrel.