Oil prices slide up to 3% after US-Iran talks end in Switzerland

The first round of US-Iran talks in Switzerland has concluded, fuelling expectations that Iranian oil exports could receive waivers or that sanctions may be loosened. Hopes that tankers previously stranded in the Persian Gulf could be released added to the move. Brent fell more than 2% to around $79 a barrel, while WTI dropped 3% to around $75 a barrel. The shift weighed on short-term oil price expectations by altering near-term supply-and-demand assumptions.