LONDON: Oil NSE -0.98 % prices were poised for a third day of losses on Thursday after diplomats said progress was made towards a deal to lift sanctions on Iran, which could boost crude supply.
Brent crude was down $1.40, or 2.1 per cent, at $65.26 a barrel by 0941 GMT. U.S. oil lost $1.12, or 1.7 per cent, to $62.24 a barrel. Both contracts fell around 3 per cent in the previous session.
European powers, the United States and Iran have made progress in talks over Tehran’s nuclear programme that could result in sanctions on Iranian oil being lifted.
