Oil prices slide as US Iran Doha talks remain uncertain
Oil prices dropped this week as everyone waits to see if the US and Iran will actually sit down for talks in Doha.
The ongoing tension around the Strait of Hormuz, after months of conflict, has slowed oil movement and created some political headaches for President Trump, especially with elections coming up.
Brent crude $72.40 US oil $70.32
Brent crude fell to $72.40 a barrel, while US oil slipped to $70.32.
Markets are hoping things will calm down soon, but there's still no clear sign that tensions are easing.
Iran and Oman want to discuss new shipping routes through Hormuz, though Iran has ruled out direct talks with the US for now.
Meanwhile, Goldman Sachs thinks Gulf oil flows could bounce back to normal levels by early July, thanks to a recent surge in regional traffic.