Oil Price Today: Brent Drops Below $95 as U.S.-Iran Talks Test the Market’s Biggest Risk
Oil gave up ground Tuesday. Brent crude slid under the $95 mark—off 69 cents to $94.79 a barrel by 0955 GMT—as hopes for U.S.-Iran peace talks seemed to matter more to markets than the Strait of Hormuz’s latest snag. U.S. West Texas Intermediate for May shed $1.12, or 1.3%, down at $88.49, and the June WTI contract edged 16 cents lower to $90.27.