Oil prices held close to a one-month high on Tuesday despite efforts to broker a truce between the US and Iran as the widening conflict and a new threat to Red Sea shipping kept supply fears alive.
Brent crude, the international benchmark, slipped 0.4 per cent to $88.87 a barrel, while US West Texas Intermediate held steady at $82.47. Both remained near the highs reached the day before, when Brent broke above $90 for the first time in more than a month.
