Oil prices fall to their lowest level in three weeks

Oil prices continued their decline today, falling more than 6% to their lowest level in three weeks, as Brent and West Texas crude settled below $100 a barrel for the first time since late February, as fears of supply disruptions faded.

A Ukrainian negotiator said today that talks with Russia on a ceasefire and the withdrawal of Russian forces from Ukraine are continuing, and Russia said it has received written guarantees that it can do its job as a party to the Iran nuclear deal. Brent crude futures fell $6.99, or 6.5%, to $99.91 a barrel, and US West Texas Intermediate crude futures fell $6.57, or 6.4%, to $96.44 a barrel.