Oil dips 10% in two sessions as US, Iran mull peace talks
Oil prices slipped 1% on Tuesday as traders assessed the possibility of a diplomatic breakthrough between the US and Iran after Washington paused its strikes. The development has raised hopes that the conflict could ease and that energy flows across the Middle East may eventually return to normal.
Crude oil price on July 28
Brent crude futures were down $0.78, or 1%, at $88 a barrel, while US West Texas Intermediate crude fell $0.88, or 1.1%, to $82. Both benchmarks had dropped 1% earlier in the session, touching their lowest levels in more than a week.
Crude oil price on July 28
Brent crude futures were down $0.78, or 1%, at $88 a barrel, while US West Texas Intermediate crude fell $0.88, or 1.1%, to $82. Both benchmarks had dropped 1% earlier in the session, touching their lowest levels in more than a week.
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