FX.co ★ Oil Falls by Over 1.5%

WTI crude oil futures fell more than 1.5% to around $64.30 per barrel on Thursday, as investors weighed renewed nuclear negotiations between the United States and Iran against rising exports from key Middle Eastern producers. Washington and Tehran began a third round of talks just days before a deadline set by Donald Trump, with Iranian officials signaling some flexibility even as the U.S. imposed new sanctions on more than 30 entities linked to Iran’s oil and weapons trade. Prices have also come under pressure from expectations of a global supply surplus later this year. Saudi Arabia is preparing to ship its largest volume of crude in nearly three years, while exports from Iraq, Kuwait, and the United Arab Emirates have also increased. Market participants now turn their attention to the upcoming OPEC+ meeting for guidance on April production policy.