3/24, 3:29 PM (Source: TeleTrader)
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Oil slides 2% as supply worries decline

Prices of crude oil futures dropped 2% on Thursday as the sanctions-prompted worries regarding supply somewhat abated after United States National Security Advisor Jake Sullivan hinted that some progress has been made in the country's nuclear deal talks with Iran, another major oil exporter, currently blacklisted by the US.

"We've made progress over the course of the last several weeks," Sullivan asserted a day prior, while admitting that the are issues left to be resolved.

West Texas Intermediate for May deliveries lost 1.9% at 10:17 am ET, selling for $112.82 per barrel, while Brent for settlements in the same month plunged 2.01% and went for $119.15 per barrel a minute later.

Baha Breaking News (BBN) / BU