Oil falls as investors focus on potential Iran-US talks in Doha

Crude oil prices fell on hopes of potential Iran-US talks in Doha aimed at easing tensions around the Strait of Hormuz. Brent August futures dropped 1.03 percent to 72.40 dollars a barrel, while the September contract declined 0.54 percent to 73.50 dollars; US WTI fell 0.66 percent to 70.32 dollars. Iranian officials denied any near-term negotiations with the US, keeping market sentiment cautious, though Goldman Sachs noted Gulf oil flows could return to pre-war levels of 23 million barrels per day by early July if recovery continues.