Oil slips 1% as Iran diplomacy eases supply fears

The Irish Times · Irlanda · Prensahace 2 días

Oil prices edged lower on Tuesday, falling about 1 per cent as prospects for a resolution of the US-Israeli war on Iran kept supply fears at bay with talks in Tehran, despite renewed Houthi attacks on Saudi Arabia. Brent crude futures were down $1, or 0.86 per cent, at $114.81 a barrel by 0418 GMT, while US West Texas Intermediate crude was down 88 cents, or 0.86 per cent, at $100.88.

Both fell 1 per cent early in the session. Saudi Arabia, Turkey and Pakistan held talks ⁠with Iranian officials in Tehran on Monday aimed at easing tension in the Middle East.

The four ‌countries ‌agreed to continue talks with a view to strengthening cooperation in peace and security, Iranian state media said.“Crude oil prices are witnessing profit-taking after surging to ⁠multi-month highs, as renewed diplomatic efforts in West Asia have raised hopes of a potential breakthrough in negotiations between the US and…

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