Oil slips amid US President Donald Trump Iran compensation dispute
Oil prices slipped on Tuesday, even as things heated up between the US and Iran over who owes whom for past conflicts.
US President Donald Trump wants Iran to pay families affected by its military actions, especially those linked to General Soleimani, while Iran is pushing for compensation from the US for earlier military damage.
It's a back-and-forth that's keeping everyone on edge.
Brent $87.59 WTI $82.05 MCX ₹7,833
Even with all this tension, oil prices aren't exactly spiking: Brent crude dipped to $87.59 a barrel and WTI crude edged down to $82.05.
On the flip side, India's MCX crude price actually rose, with August MCX crude oil futures up 0.38% to ₹7,833.
ING warns oil risks may persist
Analysts at ING think these U.S.-Iran issues won't be solved any time soon, so oil price risks could stick around.
Shipments through the key Strait of Hormuz are still moving, but Iraq's exports have dropped since the conflict started, with a number of vessels would be navigating the strait with transponders turned off.