Oil Prices Fall Over $1 as U.S.-Iran Peace Talks Progress and Hormuz Flows Monitored
By
Reuters
4h ago· 3 min readenNews
Summary
Oil prices dropped over $1 on Tuesday as investors monitored crude flows through the Strait of Hormuz amid signs of progress in U.S.-Iran peace talks. Brent crude fell 1.2% to $76.72/barrel, while WTI dropped 1.6% to $72.68/barrel, reaching near four-month lows. The decline followed a 3% drop on Monday after the U.S. granted Iran a 60-day sanctions waiver following initial peace talks, and as officials reported a lull in hostilities in Lebanon.
Source
bskyOil Prices Fall Over $1 as U.S.-Iran Peace Talks Progress and Hormuz Flows Monitoredgvwire.comKey quotes
· 3 pulledOil prices fell more than a $1 on Tuesday as investors monitored crude flows through the Strait of Hormuz amid signs of progress in U.S.-Iran peace talks.
Brent crude futures declined $1.18, or around 1.2%, to $76.72 a barrel while U.S. West Texas Intermediate fell $1.18, or 1.6%, to $72.68 a barrel
Prices fell more than 3% on Monday after the United States granted Iran a 60-day sanctions waiver following initial peace talks, and as officials reported a lull in hostilities in Lebanon
Oil prices drop over $1 as investors watch developments in U.S.-Iran peace talks and crude flows in the Strait of Hormuz.
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