Oil prices slightly down on reports of talks with Iran

Global oil prices on Wednesday morning are on symbolic decline on reports of renewed nuclear talks with Iran, which promotes an additional inflow of this product to the market, according to trading data.

Report informs with reference to Prime that the price of December futures for Brent crude oil fell by 0.11%, to $83.32/bbl, while November futures for WTI also dropped by 0.11%, to $80.55/bbl.

Oil prices fell Wednesday morning on a possible resumption of nuclear talks with Iran.

The Bloomberg report said negotiations could begin as early as this week, OANDA analysts told the Wall Street Journal.

Experts say if progress is made after weeks of negotiations, a re-signing of the US nuclear power development deal with Iran could push the price of Brent crude to around $70/bbl.