WEB DESK: Oil prices have fallen in the global market after positive progress in the talks between the US and Iran.
According to reports, the price of Brent crude oil has decreased by more than a dollar per barrel.
The price of Brent crude oil has reached $79.44 per barrel.
It should be noted that after the Iran-US talks in Switzerland, Qatar and Pakistan have issued a joint statement.
According to the Foreign Office, the first round of negotiations under the framework of the Islamabad Memorandum of Understanding has been successfully completed. The joint statement, released by the Pakistani and Qatari Foreign Ministries, confirmed that the parties have agreed to establish a high-level committee to monitor the ongoing dialogue process.
A 60-day roadmap for a final agreement has been approved, outlining a clear pathway toward a comprehensive settlement. The joint statement further stated that technical talks between Iran and the United States will begin immediately, with a dedicated line of communication to be established for the safe passage of commercial ships in the Strait of Hormuz.
In a separate development, the parties have agreed to establish a de-confliction cell to implement the Lebanon ceasefire. Working groups related to Iran’s nuclear program and sanctions will also be formed as part of the broader negotiation framework.
According to the Foreign Ministry, the de-confliction cell will include Lebanon and the mediator countries, who will continue their efforts to advance the talks in a constructive environment. Technical negotiations will continue at the Bürgenstock resort for the remainder of the week.
