Oil Prices Slide Below $85 Amid Easing US-Iran Tensions

Oil prices continued their downward trend on Tuesday, sliding below $85 per barrel as tensions between the US and Iran eased.

The international benchmark Brent crude futures for October traded at $83.95 per barrel, down 2.24% from the previous close of $85.87.

The US benchmark West Texas Intermediate (WTI) futures for September fell 2.17% to $80.82 per barrel, compared with $82.61 in the previous session.

President Donald Trump said on Monday that there is a 'good chance' of reaching a deal with Iran, but warned that Washington would resume military operations if negotiations fail.