WTI crude oil futures fell more than 1% on Thursday, dropping to around $64 a barrel, ending a two-day winning streak. This followed Tehran's confirmation that it would hold talks with Washington this week, easing concerns that an escalation of the conflict could disrupt oil supplies. Iranian Foreign Minister Abbas Araqchi stated that the talks would be held in Oman on Friday. Meanwhile, a White House official confirmed that the US and Iran still planned to consult on a potential nuclear agreement. The scope of the negotiations remains uncertain, with Tehran hoping to limit talks to its nuclear program, while Washington wants to broaden the agenda to include Iran's ballistic missile program, support for regional armed groups, and human rights issues. Oil prices had risen in the previous two trading days as escalating tensions in the Middle East increased geopolitical risk premiums.