Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
Palestinian Ministry of Health: Two were martyred in Israeli shelling that targeted a besieged house in the town of Qabatiya in Jenin
At least 68 dead in migrant shipwreck off Yemen: IOM
Trump: We want to feed the people in Gaza, we do not want them to starve.
US President Donald Trump: We will impose sanctions on Russia if it does not end the war on Ukraine.
Israeli media: Polls show that 52% oppose Prime Minister Benjamin Netanyahu while only 29% support him.
Israeli media: 32% of Americans still support "Israel's" war on Hamas, while 60% oppose it.
Israeli media: Core US support for "Israel" hits its lowest, while support for Palestine reaches its highest levels.
Al Mayadeen's correspondent reports martyrs, injuries in Israeli bombardment of home in Heker al-Jame area in Deir al-Balah, central Gaza.
Al-Quds Governorate: Today, the spatial division of Al-Aqsa Mosque began in a public and dangerous manner, and we warn of a religious war in the region
The Ministry of Health in Gaza: This brings the total number of victims of famine and malnutrition to 175, including 93 children

US crude oil falls 2.7% in light of potential Iran deal

  • By Al Mayadeen Net
  • Source: Agencies
  • 3 Mar 2022 23:57
3 Min Read

Amid signs that Iran and major powers are likely to strike a deal soon regarding Tehran's nuclear program, oil prices decrease amid hopes for reaching said deal.

  • x
  • Brent crude oil decreases following spike
    Brent crude oil decreases following a spike

US crude oil surged into levels similar to those it reached during the 2008 economic crisis before falling almost 3% on Thursday, marking its first decrease in four days, in light of the West and Iran nearing a nuclear deal that could see Iranian oil making it to the market it was barred from due to Washington's unilateral sanctions.

The United States had imposed harsh sanctions on Iran following Washington's withdrawal from the JCPOA in 2018 under then-President Donald Trump, which had major impacts on Iran's economy and the global oil markets.

US crude’s West Texas Intermediate benchmark saw a $2.93 decrease, or 2.7%, reaching $107.67 a barrel. Prices had earlier surged to $116.57, the highest in nearly a decade in a half since the 2008 Global Financial Crisis.

The surge has been affected by global concerns that the sanctions on Russia would impact energy exports from the country providing the world with 10% of its oil needs.

Brent also settled down $2.47, or 2.2%, at $110.46 a barrel, also decreasing for the first time in four days. Brent peaked at $119.78 on Thursday, marking its highest price since May 2012.

Related News

Cholera devastates Darfur region amid conflict, US aid cuts

US uses tariffs to strongarm India on Russia ties

Oil prices simmering down came against the backdrop of reports suggesting that Iran and world powers nearing a nuclear deal that could free Iran from US sanctions and boost the global economy.

Iranian media quoted Russian chief Vienna negotiator Mikhail Ulyanov as saying an agreement was likely over the next few days, paving way for the legitimate return of Tehran's oil to the market. 

Iran's crude exports were averaging 2.4 million barrels per day, peaking at more than 2.8 million before Trump's move. 

Al Mayadeen's correspondent reported that information from more than one source suggest a deal will be reached soon in the Vienna Talks.

Iran's Foreign Ministry spokesperson Saeed Khatibzadeh commented on the talks saying they were still ongoing: "no one can say that the deal is done until all outstanding remaining issues are resolved. Extra efforts needed," he tweeted.

The Vienna talks between Iran and the remaining JCPOA parties began in April on the assumption that the US, under the Joe Biden administration, is willing to reverse the so-called maximum pressure policy pursued by former President Donald Trump against Tehran.

Iran has stated that it will not accept anything less than the complete removal of all US sanctions in a verifiable manner. It also wants assurances that Washington will not withdraw from the agreement again.

  • United States
  • Russia
  • JCPOA
  • Vienna talks
  • Austria
  • Iran

Most Read

A rescued crew member from the ETERNITY C vessel in a video released by the Yemeni Armed Forces on July 28, 2025 (Yemeni Military Media)

Yemen Navy reveals fate of targeted Eternity C ship crew

  • Politics
  • 28 Jul 2025
An Israeli tank explodes following an ambush by al-Qassam Brigades in Gaza, Occupied Palestine, undated (Al-Qassam Military Media)

Al-Qassam strikes Israeli vehicles in Gaza, inflicts casualties

  • Politics
  • 30 Jul 2025
UAE lodges complaint against Israeli ambassador over 'misbehavior'

UAE lodges complaint against Israeli ambassador over 'misbehavior'

  • Politics
  • 1 Aug 2025
Protesters chant anti-Israeli slogans as they carry a banner that reads:" Freedom for Palestine, Alliance stop the war," during a demonstration in support of Palestinians in Gaza, outside the Israeli embassy, in Athens, Monday, June 9, 2025 (AP)

Athens mayor slams Israeli ambassador over Gaza war, graffiti claim

  • Politics
  • 3 Aug 2025

Coverage

All
The Ummah's Martyrs

Read Next

All
A member of the al-Qassam Brigades, the armed wing of Hamas, takes part in a parade as he celebrates a ceasefire agreement between Hamas and the Israeli regime in Deir al-Balah, Gaza Strip, Sunday, January 19, 2025 (AP)
Politics

Al-Qassam: We’ll allow aid to Israeli captives if Gaza siege ends

Freed Lebanese freedom fighter Georges Abdallah during an interview on Al Mayadeen, which aired on Sunday, August 3, 2025 (Al Mayadeen screengrab)
Politics

Exclusive: Resistance key to building state, Georges Abdallah says

United Nations Secretary General Antonio Guterres gives a statement about the situation in Gaza at UN headquarters, Friday, June 27, 2025 (AP)
Politics

UN warns Gaza faces water crisis, looming famine under Israeli siege

Israeli soldiers drive their armored personnel carrier along the Gaza Strip, in southern occupied Palestine, Wednesday, July 30, 2025 (AP)
Politics

Ex-Israeli general says Gaza starvation campaign isolated 'Israel'

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS