Oil Prices Fall, Second Consecutive Week of Gains on Weekly Basis
Oil prices fell due to perceived stalemate in US-Iran peace talks. West Texas Intermediate (WTI) crude oil and Brent crude oil futures dropped by 3% and 2% respectively, while WTI crude still recorded a second consecutive week of gains.
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- 📰 Published: May 2, 2026 at 07:00
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Central News Agency
(New York, Central News Agency, May 1, comprehensive foreign report) Oil prices fell today amid light trading, as the market believed that while US-Iran peace talks were deadlocked, they had not completely broken down. West Texas Intermediate (WTI) crude oil prices recorded their second consecutive week of gains on a weekly basis.
In the New York market, the June futures price for West Texas Intermediate (WTI) crude oil fell by 3%, closing at $101.94 per barrel.
In the London market, the July futures price for North Sea Brent crude oil fell by 2%, closing at $108.17 per barrel. (Compiled by Hsu Rui-cheng) 1150502
(New York, Central News Agency, May 1, comprehensive foreign report) Oil prices fell today amid light trading, as the market believed that while US-Iran peace talks were deadlocked, they had not completely broken down. West Texas Intermediate (WTI) crude oil prices recorded their second consecutive week of gains on a weekly basis.
In the New York market, the June futures price for West Texas Intermediate (WTI) crude oil fell by 3%, closing at $101.94 per barrel.
In the London market, the July futures price for North Sea Brent crude oil fell by 2%, closing at $108.17 per barrel. (Compiled by Hsu Rui-cheng) 1150502