Crude Oil Plunges: US-Iran Talks Spark Global Market Turmoil

• Crude oil prices fell as US-Iran nuclear program talks showed positive signs, reducing risk premium.
• West Texas Intermediate stayed above $62/barrel, Brent reached $67/barrel despite the drop.
• Tehran claimed 'general consensus' on a potential agreement; US official expects new proposal from Iran.
• Geopolitical concerns, including Iran tensions, previously fueled oil price surges; increased global supply warnings now pressure prices.
• Iran announced temporary closure of Strait of Hormuz for military exercises; US deployed second aircraft carrier.