Oil Prices Ease as Hopes Rise for US–Iran Talks

Oil prices fell on Tuesday as renewed hopes of potential talks between the United States and Iran helped ease concerns about further disruptions to global energy supplies.

The price of Brent crude, the international benchmark, dropped by around 1% to approximately $98.40 per barrel, while US-traded crude declined by 1.7% to $97.40. The fall followed comments from Donald Trump, who suggested that Iran had reached out to Washington regarding a possible agreement.