Washington, Aug. 3 -- Global oil prices fell sharply today after US President Donald Trump said he was preparing for a new round of talks with Iran for ending the ongoing war in West Asia, temporarily easing market concerns over further disruptions to global energy supplies despite Tehran's denial that it was currently engaging with Washington.
Following the announcement, Brent crude and US benchmark crude both dropped by more than 6 per cent, while global stock markets rose with investors reacting positively to the prospect of renewed diplomacy.
Nonetheless, oil prices continue to be at a massive high in comparison to their pre-war levels in February, with continued disruptions leading to mounting concerns over the future of global energ...