The floating production and unloading vessel of Tullow oil mills, Prof. John Evans Atta, docked at the Sembcorp Marine Tuas shipyard in Singapore.
Nicky Loh | Bloomberg | Getty Images
USA. The oil price fell 2% on Wednesday after Bloomberg News reported that President Donald Trump had discussed easing the sanctions on Iran to resume negotiations.
WTI crude futures fell 2.75% to $ 55.84 a barrel, while crude oil fell 2.5% to $ 60.83 a barrel.
Trump had the idea of easing the sanctions on Iran to arrange a meeting later this month with Iranian President Hassan Rouhani.
Tensions between the US and Iran have increased since June after oil tankers and a US drone were attacked near the Strait of Hormuz, which was allegedly executed by Iran. Although Iran denies carrying out the tanker attacks, claiming that the drone is in Iranian airspace, President Donald Trump signed an executive order in response to the shooting down of an unmanned US drone, imposing new sanctions on Iran Channel between the Iranian and the Omani border accounts for about 30% of global oil shipping.
It is unclear whether Iran would even agree to a conversation with the White House. In July, Iranian Oil Minister Bijan Zanganeh told CNBC that Iran was unwilling to open talks with the US until the sanctions were lifted.
However, the White House has prepared for Trump to meet Rouhani in New York this month during the annual UN General Assembly, sources Bloomberg said. It is possible that Trump will attend a meeting between Rouhani and French President Emmanuel Macron, the sources said.
The report said Trump's former National Security Advisor John Bolton, who resigned on Tuesday, was opposed to lifting the sanctions. Bolton's withdrawal from the White House eliminates one of Iran's strongest hardliners.
Separately and earlier on Wednesday, the US Energy Information Board said crude oil inventories had fallen 6.9 million barrels from the previous week, compared to analysts' expectations of a 2.7 million barrel decline.
– Read the full Bloomberg report here .