{
  "id": 66064,
  "title": "Oil prices fall nearly 5% after US announces new Iran talks",
  "url": "https://urgent.news/2026/08/03/oil-prices-fall-nearly-5-after-us-announces-new-iran-talks",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-03T00:09:00.000Z",
  "source": {
    "name": "Free Malaysia Today",
    "slug": "free-malaysia-today",
    "url": "https://www.freemalaysiatoday.com/category/business/2026/08/03/oil-prices-fall-nearly-5-after-us-announces-new-iran-talks"
  },
  "original_language": "en",
  "account": "Oil prices experienced a significant drop of nearly 5% following the US announcement of new discussions with Iran, aimed at resolving the ongoing Middle East conflict and reopening the Strait of Hormuz. This development sent shockwaves through the global energy market, as the war between the United States and Iran had severely disrupted oil and gas supplies, leading to sharp price fluctuations. On Sunday, the price of a barrel of Brent North Sea oil, the global benchmark, was down 4.69% at US$83.81, while West Texas Intermediate fell 4.67% to US$80.72.\n\nPresident Donald Trump revealed on Sunday that fresh negotiations with Iran would commence on Monday, reflecting a shift in the US approach to the conflict. Trump emphasized that the discussions would begin as formal negotiations, without disclosing the specific venue or participants involved. Shortly after announcing the suspension of major strikes against Iran, Iran announced on Sunday that progress was being made towards a deal with Oman regarding a new route through the tightly controlled Strait of Hormuz.",
  "summary": "Brent crude drops 4.69% to US$83.81 a barrel, while West Texas Intermediate declines 4.67% to US$80.72.",
  "key_points": [
    "US announces new Iran talks, aiming to resolve conflict",
    "Brent North Sea oil price drops 4.69%, West Texas Intermediate 4.67%",
    "Talks begin Monday, details of venue and participants undisclosed"
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 4,
    "also_reported_by": [
      {
        "outlet": "Fortune",
        "title": "After canceling Iran strikes, Trump says negotiations will resume Monday afternoon while Tehran continues Hormuz talks with Oman",
        "url": "https://urgent.news/2026/08/02/after-canceling-iran-strikes-trump-says-negotiations-will-resume",
        "published": "2026-08-02T23:23:00.000Z"
      },
      {
        "outlet": "CNBC",
        "title": "Trump says Iran talks to resume Monday after calling off planned strikes",
        "url": "https://urgent.news/2026/08/03/trump-says-iran-talks-to-resume-monday-after-calling-off-planned",
        "published": "2026-08-03T02:23:21.000Z"
      },
      {
        "outlet": "Dawn",
        "title": "Trump says new Iran talks set to start today after calling off massive attack",
        "url": "https://urgent.news/2026/08/03/trump-says-new-iran-talks-set-to-start-today-after-calling-off",
        "published": "2026-08-03T05:16:53.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}