Oil prices fall 1% on signs of progress in indirect U.S.-Iran negotiations. A Qatar Foreign Ministry spokesperson said in a post on X that Qatari and Pakistani mediators had concluded separate meetings with U.S. and Iranian negotiators in Doha, with positive progress made on issues related to the memorandum of understanding. "Oil prices are likely to remain under downward pressure as supply continues to normalize and geopolitical risk premiums unwind, although setbacks in negotiations or renewed security incidents could still trigger periods of volatility," says Soojin Kim from MUFG. In early European trading, Brent crude slides 1% to $70.87 a barrel, while WTI futures are down 1% to $67.86 a barrel. (giulia.petroni@wsj.com)