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The Economic Times

Business

Oil falls slightly on reports of potential US-Iran ceasefire deal

United States Iran JD Vance Oil Vice President Strait of Hormuz uranium

Oil futures fell slightly on hopes for a potential deal to extend a U.S.-Iran ceasefire, although remarks from Vice President JD Vance that the nations were "close" to reaching a deal but "not there yet" kept a floor under prices.

Brent crude futures for July, which expire on Friday's settlement, was ‌down 35 ⁠cents, or ⁠0.37%, at $93.36 a barrel at 0105 GMT. U.S. oil futures fell 63 cents, or 0.71%, to $88.27 a barrel.

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