Baghdad Oil prices continued to decline today, Thursday, with US crude futures falling below $80 a barrel, after an agreement with Iran to resume nuclear talks this month.
US West Texas Intermediate crude fell for the third day in a row to $79.98 a barrel by 03:26 GMT, down by 1.1%.
Brent crude futures also extended losses for the second consecutive session, as contracts for January delivery fell 66 cents, or 0.8%, to $81.33 a barrel.
The two benchmarks recorded, on Wednesday, the largest percentage decline since early August, to close Brent at the lowest level since the seventh of October, and the US crude at the lowest level since the thirteenth of October, after the release of data from the US Energy Information Administration that showed a greater than expected increase in stocks of US crude last week.
Iran and the major powers will resume talks on November 29 and this year.
Iran is demanding that America lift sanctions restricting its oil exports.
Source: National Iraqi News Agency