Oil declines ahead of US-Iran talks
Oil prices declined on Tuesday amid anticipation of the results of discussions between the United States and Iran, amidst tensions that included missile exchanges earlier this week. August Brent futures, which expire today, dropped by 1.03% to $72.40 per barrel, while U.S. West Texas Intermediate crude fell by 0.66% to $70.32. Investors remain cautious as uncertainty surrounds the outcome of the talks, even though flows through the Strait of Hormuz could return to pre-conflict levels, and producing countries continue to load oil despite escalating tensions.
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