Oil Prices Slide on Ongoing Tensions Between US and Iran

Crude oil futures continued their decline for a third consecutive session on Tuesday. The pause in fighting between the US and Iran appeared to hold, but tensions remain high as Iran held discussions with Saudi Arabia and Oman about the Strait of Hormuz.

The talks between Iranian diplomats and officials from the two countries were seen as a positive development, but oil prices continued to fall. Crude oil futures have been under pressure in recent days due to concerns over supply disruptions and global economic uncertainty.