Oil prices ease after possible US Iran negotiations in Pakistan
Business
Oil prices took a small hit after news broke that the US and Iran might restart negotiations soon.
The talks, possibly happening in Pakistan, could help ease recent supply headaches caused by the closure of the Strait of Hormuz, a key route for global oil shipments.
Brent $94.27 WTI $90.24 after announcement
Brent crude slipped 0.55% to $94.27 per barrel, while US WTI dropped 1.1% to $90.24 after the announcement.
Still, analysts aren't convinced this means cheaper fuel is coming soon—some say prices could stick between $85 and $110, or even spike up to $150 if Middle East tensions drag on.
The situation at the strait remains tense, so expect some price swings ahead.