The forward barrel price of Brent oil decreased by 9.3 percent compared to the closing time at 13.46 today, reaching 99.62 dollars. At the same time, West Texas Intermediate (WTI) crude oil was purchased at $91.54 per barrel, decreasing by 10.5 percent.
The decline in prices was influenced by the news flow that the US was close to signing a one-page memorandum of understanding with the Tehran administration to end the war with Iran and for more detailed nuclear negotiations.
According to the news of Axios platform, based on sources knowledgeable about the subject and some US officials, who did not want to be named, the USA expects a response from Iran within 48 hours to sign the memorandum of understanding.
Accordingly, two US officials claimed that the Washington administration is close to signing a one-page memorandum of understanding with the Tehran administration in order to end the war with Iran and create a framework for more detailed nuclear negotiations. They stated that nothing has been agreed upon yet, but this is the closest the parties have come to an agreement since the start of the war.
The news stated that the memorandum of understanding in its current form envisages the beginning of a 30-day negotiation period on a detailed agreement to end the war in the region and open the Strait of Hormuz, limit Iran’s nuclear program and lift US sanctions.
Two sources stated that these talks could be held in Pakistan’s capital Islamabad or Geneva, Switzerland.
A US official claimed that during the 30-day negotiation period, Iran’s restrictions on ship passage through the Strait of Hormuz and the US naval blockade will be gradually lifted.
It is stated that technically $ 111.18 can be watched as resistance and $ 98.86 as support zone for Brent oil.
