Oil prices fell on Thursday, with Brent crude at $96.37 per barrel, amid US-Iran negotiations for a peace agreement.

Oil prices continued to decline on Thursday, amid hopes for a peace agreement between the US and Iran, according to Reuters and EFE agencies. Brent crude, the global benchmark, recorded a drop of nearly 5%, reaching $96.37 per barrel, after an 8% decline recorded on Wednesday. Although the price has decreased, it remains about 40% higher compared to the level at the end of February, when the conflict began. On the New York Mercantile Exchange, the price of 'light sweet crude' oil fell by 5.25%, reaching $90.09.

The United States' efforts to facilitate an agreement with Iran before Donald Trump's visit to China suggest Washington's desire to prevent the crisis in the Strait of Hormuz from affecting the meeting with Xi Jinping. The rapprochement between the US and Iran coincides with the visit of the Iranian foreign minister to Beijing, the first since the beginning of the conflict. This situation has prompted Chinese authorities to temporarily intervene to limit domestic fuel price increases.