Doha:Oil prices experienced a decline after a significant rise of approximately 4% in the previous session. This decrease occurred following Iran's announcement of its openness to diplomacy to resolve its conflict with the United States.
According to Qatar News Agency, Brent crude futures dropped by 94 cents, or 0.9%, reaching $102.13 per barrel. Meanwhile, West Texas Intermediate (WTI) crude futures decreased by 59 cents, or 0.7%, settling at $91.56 per barrel.
The Energy Information Administration (EIA) reported that U.S. crude oil inventories rose by 3 million barrels, bringing the total to 426.4 million barrels last week.