Brent Crude Dips Below $88 Amid Ongoing Iran-US Tensions

Oil prices continued to ease on Tuesday amid ongoing talks between Iran and the US. The global benchmark Brent crude fell below $88 per barrel, while West Texas Intermediate (WTI) neared $82 a barrel.

The price drop comes after President Trump halted strikes against Iran to give talks another opportunity, according to Axios. However, it remains unclear whether the two parties are having meaningful conversations.

Tensions between Washington and Tehran have been fluctuating this month, with prices rising as tensions grew and falling as they subsided. The recent developments indicate a possible easing of tensions in the region.