Oil prices dropped in early Monday trading as the United States and Iran reportedly are nearing a peace deal, although experts said gas prices will remain high for some time. File Photo by John Angelillo/UPI | License Photo
May 25 (UPI) -- With the United States and Iran reportedly nearing a peace deal, oil prices fell slightly below $100 per barrel early Monday, suggesting optimism from traders to start the week.
Gas prices also declined slightly in the United States in the last week, but remain above $4.50 per gallon for regular on Memorial Day.
President Donald Trump has indicated that negotiations are "proceeding nicely," and Iran acknowledged that talks have progressed but that a deal has not been reached, The BBC reported.
In European trading, Brent crude dropped to $95.04 per barrel and WTI futures dropped dropped to $91.02 per barrel -- both declines of more than 5% -- the Wall Street Journal reported.
