5/20, 11:25 AM (Source: TeleTrader)
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Oil slips as progress in US-Iran talks reheats supply worries

Prices of oil futures slid more than 1.5% on Thursday, extending the week's slump prompted by worries over a rise in United States stockpiles.

The prices of crude seemingly reacted to the progress made in the US-Iran negotiations, especially in regard to the possibility of ending oil-related sanctions.

Brent for July deliveries lost 1.65%, going for $65.58 per barrel at 5:14 am ET, while West Texas Intermediate (WTI) for settlements in the same month declined by 1.45% to sell for $62.41 per barrel a minute later.

Breaking the News / BU