Muscat: Oil prices fell about 2% on Thursday after the US and Iran agreed to hold talks in the Omani capital, Muscat, on Friday, easing concerns that a potential military conflict between them could disrupt supply. Brent crude futures fell $1.44, or 2.07%, to $68.02 per barrel, while US West Texas Intermediate crude prices fell $1.34 cents, or 2.06%, to $63.80.

According to Qatar News Agency, oil prices rose by about 3% on Wednesday after reports suggested the planned talks between the United States and Iran on Friday could collapse, before officials from both sides said talks would go ahead.