New York — Oil prices settled lower on Wednesday, after Oman’s foreign minister said a fresh round of nuclear talks between Iran and the U.S. would take place later this week.
Prices had gained earlier in the session on a CNN report on Tuesday that U.S. intelligence suggests Israel is preparing to strike Iranian nuclear facilities. CNN cited multiple U.S. officials and added that it was not clear whether Israeli leaders have made a final decision.
Brent futures settled down 47 cents, or 0.7%, to $64.91 a barrel. U.S. West Texas Intermediate crude fell 46 cents, or 0.7%, to $61.57.
Iran is the third-largest producer among members of the Organization of the Petroleum Exporting Countries and an Israeli attack could upset flows from the country.
“Now we’re going for another round of peace talks so that offset that premium we put in,” said Phil Flynn, senior analyst with Price Futures Group.
