Oil prices dipped further on Thursday as United States President Donald Trump awaited Iran’s response to the latest US peace proposal.
Brent crude fell from around $106 per barrel to $102 on Thursday, while WTI also dropped to $96 from $98 earlier on Wednesday.
Iran’s government said it was reviewing the latest proposal from the US for a potential deal to end the nearly three-month conflict that has sent global fuel prices soaring.
Ministry of Foreign Affairs spokesperson Esmaeil Baghaei had earlier said that Iranians had “received US views and are reviewing them,” according to the Iranian state agency Nour News.
Al Jazeera reports that six weeks after a ceasefire took effect, efforts to bring the conflict to a permanent end have intensified in recent days as Pakistan’s military chief, Field Marshal Asim Munir, continues “talks and consultations” with Iranian authorities.
