Iran Diplomacy Boosts Oil Prices

Brent crude oil prices have fallen below $90 per barrel as diplomatic efforts between Iran and the US ease concerns over supply disruptions.

The price of Brent fell by 3% to around $89.5 a barrel on Tuesday, extending a 2.4% loss in the previous session.

Pakistan's army chief visited Tehran as part of efforts to reduce tensions, carrying a proposal involving potential sanctions relief under an existing memorandum of understanding.

The US Treasury Secretary announced that countries trading with Iran would be given a deadline to wind down their links or risk unilateral penalties.