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The Economic Times
The Economic Times
Business

Oil prices slip as Iran-Oman talks fuel hopes for US-Iran peace deal

Iran United States Oman Oil Gulf Red Sea Strait of Hormuz

Oil prices slipped on Thursday as investors assessed whether progress in ​Iran-Oman talks could pave the way ​for a U.S.-Iran peace deal to end the five-month war and reopen ​the Strait of Hormuz.

Brent crude futures fell 37 cents, or 0.5%, to $79.08 a barrel by 0024 GMT. U.S. West Texas Intermediate futures declined 53 cents, or 0.7%, to $74.69 a barrel. Brent settled up slightly on Wednesday, while ‌WTI edged ⁠lower.

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