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The Economic Times

Business

Oil steadies near one-week highs as US-Iran peace deal hopes dim

Oil United States Iran Saudi Aramco Donald Trump Strait of Hormuz Tim Waterer Jazan

Oil prices steadied on Tuesday at more than one-week highs amid fading hopes of a deal between the U.S. and Iran to end their war and reopen the Strait of Hormuz, after President Donald Trump demanded compensation for damage the U.S. has incurred.

Brent crude futures were flat at $87.81 a barrel by 0013 GMT, while U.S. ‌West Texas Intermediate ⁠crude ⁠futures held at $82.20 a barrel.

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