Global oil prices fell today, influenced by the possibility of resuming negotiations between the United States and Iran, indicating potential shifts in the oil supply landscape.

Brent crude futures fell by 14 cents, or 0.16%, to settle at $87.96 per barrel by 08:52 GMT.

In contrast, US West Texas Intermediate crude fell by 50 cents, or 0.61%, to $81.99 per barrel over the same period.

Energy market traders are closely watching the progress of US-Iran talks, as any diplomatic breakthrough could lead to the lifting of sanctions on Iranian oil, thereby increasing global supply and putting pressure on prices.