Oil prices have slightly decreased as there may be position adjustments before the meeting between the US and Iran.

As the United States and Iran are about to hold talks, there may be a slight adjustment in oil prices. Near-month West Texas Intermediate futures fell 0.1% to $66.25 a barrel, while near-month Brent crude futures fell 0.1% to $71.41 a barrel. Warren Patterson and Ewa Manthey of ING Group said in a report: "The United States and Iran plan to hold further talks on Thursday, and the Iranian foreign minister has stated that there is a possibility of a diplomatic solution." ING Group added: "If an agreement is reached, we will see a significant erosion of the risk premium currently reflected in market prices, but reaching an agreement is easier said than done."