Ammon News - Oil prices fell over $1 during trade on Thursday on expectations of a potential U.S.-Iran nuclear deal, while a surprise build in U.S. crude oil inventories last week heightened investor concerns about oversupply.

Brent crude futures fell $1.49, or 2.3%, to $64.60 a barrel by 0405 GMT. U.S. West Texas Intermediate (WTI) crude futures slid $1.46, or 2.3%, to $61.69.

The both benchmarks lost about 0.8% on Wednesday.

Iran is willing to agree to a deal with the U.S. in exchange for the lifting of economic sanctions, an Iranian official told NBC News in an interview published on Wednesday.

"Fresh selling was triggered by expectations that a U.S.-Iran nuclear deal would ease recently tightened U.S. sanctions on Iran, potentially loosening the global crude supply-demand balance," said Yuki Takashima, economist at Nomura Securities.

Saudi Arabia fully supports the U.S.-Iran nuclear talks and hopes for positive results, the kingdom's foreign minister Prince Faisal bin Farhan Al-Saud said on Wednesday.

Data from the Energy Information Administration showed crude stockpiles rose by 3.5 million barrels to 441.8 million barrels in the week ended May 9, compared with analysts' expectations in a Reuters poll for a 1.1 million-barrel draw. Rueters