Brent under $78 after Iran waiver; traders weigh supply risk
Oil slid for a second day on Tuesday. Traders pointed to a short-term U.S. waiver on Iranian oil and resumed tanker traffic through the Strait of Hormuz as cooling supply concerns. Brent crude futures slipped 44 cents, or 0.6%, to $77.46 a barrel in active European trading at 9:13 a.m. BST. U.S. West Texas Intermediate dropped 30 cents, or 0.4%, to $73.56.