Oil costs slip as US–Iran talks cloud Strait of Hormuz outlook
Oil costs slipped modestly on Tuesday, extending the earlier session’s losses, as traders remained cautious amid unsure progress in US-Iran negotiations geared toward restoring crude shipments by the strategic Strait of Hormuz. Brent crude futures declined by 20 cents, or 0.3%, to $77.70 per barrel, whereas US West Texas Intermediate (WTI) eased by 12 cents,…
