Al Jazeera
Oil prices have edged lower as traders remained focused on uncertainty surrounding talks between the US and Iran, according to the Reuters news agency.
Brent crude, the international benchmark for oil prices, fell 75 cents to $94.23 per barrel, as US West Texas Intermediate crude, another key oil benchmark, dropped 85 cents to $91.31 a barrel.
The decline comes a day after both oil benchmarks recorded sharp gains.
Despite that rebound on Monday, oil prices fell more than 16 percent in May, amid the current ceasefire and hopes that a more comprehensive agreement between Washington and Tehran could lead to increased Iranian oil exports and boost global supplies.
“While markets had hoped to move past the uncertainty amid prospects of a potential deal, nothing appears to have changed for oil as of this morning,” said Priyanka Sachdeva, senior market analyst at Phillip Nova.
Brent crude, the international benchmark for oil prices, fell 75 cents to $94.23 per barrel, as US West Texas Intermediate crude, another key oil benchmark, dropped 85 cents to $91.31 a barrel.
The decline comes a day after both oil benchmarks recorded sharp gains.
Despite that rebound on Monday, oil prices fell more than 16 percent in May, amid the current ceasefire and hopes that a more comprehensive agreement between Washington and Tehran could lead to increased Iranian oil exports and boost global supplies.
“While markets had hoped to move past the uncertainty amid prospects of a potential deal, nothing appears to have changed for oil as of this morning,” said Priyanka Sachdeva, senior market analyst at Phillip Nova.
