International oil prices fall on Iran's new negotiation proposal... WTI down 3%

An oil tanker arriving at Mumbai Port, India, after passing through the Strait of Hormuz

International oil prices fell on the 1st (local time) as expectations for continued peace negotiations grew after news that Iran had delivered a new negotiation proposal to the United States through mediator Pakistan.

On this day, the closing price of Brent crude oil futures for July delivery on the ICE Futures Exchange was $108.17 per barrel, down 2.0% from the previous session.

On the New York Mercantile Exchange, the closing price of West Texas Intermediate (WTI) crude oil futures for June delivery was $101.94 per barrel, down 2.98% from the previous session.