Oil prices continue to fall on Tuesday after the chairman of the Iranian Parliament's Foreign Relations Committee said the U.S. asked a Pakistani delegation to encourage Iran to return to peace talks.
Brent crude, the international benchmark, dropped almost 3% at 9:52 a.m. on Tuesday and stood below $87.90 a barrel, while West Texas Intermediate, the U.S. benchmark, fell further, declining 3.21% and clocking in at $82.34 at the same time. The drop happened even though an oil tanker was struck and disabled in the Strait of Hormuz off the coast of Oman.
