Oil eases as U.S.-Iran talks advance, President Trump pauses escorts
Business
Oil prices are down for the second day straight, mostly because the US and Iran seem to be making progress toward a peace deal.
If things work out, it could mean smoother oil supply from the Middle East.
The drop also follows President Trump's move to temporarily pause US military escorts for ships in the Strait of Hormuz, a key route for global oil.
Brent $108, US crude under $101
On May 5, Trump paused "Project Freedom," pausing ship escorts through the Strait to help negotiations move forward, though a blockade at Iranian ports is still on.
Brent crude slid over 1% to $108 a barrel, while US crude dipped below $101.
Analysts say if talks stall again, prices could shoot back up, so everyone's watching these discussions closely.