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macroJul 28, 2026, 7:04 AM

WTI Crude Hovers Near $80 on US-Iran Peace Talk Hopes

Oil prices stay under pressure as optimism over renewed US-Iran negotiations raises prospects of easing Middle East tensions.

WTI

West Texas Intermediate crude is trading around the $80 mark, down on Tuesday. Speculation that Washington and Tehran may soon restart peace talks is weighing on the commodity.

A potential de-escalation in the Middle East would reduce the geopolitical risk premium that has supported oil prices. Traders are watching for any official announcements of a fresh round of negotiations.

Source: FXStreet Forex News