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