Doha: Oil prices continued their decline for the third consecutive day, falling by about one percent during trading Thursday, amid signs of progress in the ongoing talks between the United States and Iran. Brent crude futures fell by 77 cents, or 1.1 percent, to $70.80 a barrel, while US West Texas Intermediate crude futures dropped by 84 cents, or 1.2 percent, to $67.74 a barrel.

According to Qatar News Agency, prices had fallen by more than one percent in the previous session, reaching their lowest level in nearly four months. This downward trend reflects the market's response to potential diplomatic advancements that could affect global oil supply dynamics.