Crude oil turns lower as reports say China pushing to resume U.S.-Iran talks

Seeking Alpha ·

Crude oil futures fell Friday, snapping a streak of five consecutive daily gains, following reports that China had initiated an attempt to resume stalled peace talks between the U.S. and Iran. Exploratory discussions reportedly took place during a visit by Iran's

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Crude oil prices broke a five-day winning streak and fell. News that China is urging a restart of U.S.-Iran peace talks is the reason for the decline. The likelihood of renewed talks between the US and Iran is increasing thanks to China's efforts, causing oil prices to drop.

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