Oil Prices Slide on Stalled US-Iran Talks and Supply Uncertainty

Crude oil prices slipped by 1% on Thursday as diplomatic talks between the US and Iran stalled, leaving markets uncertain about global supply levels.

The Brent crude futures contract for November delivery fell 1.11% to $96.96 a barrel, while West Texas Intermediate (WTI) contracts dropped 1.8% to $89.19 a barrel by 10:22 AM IST.

Analysts pointed to tight fuel markets and a gradual recovery in Middle East crude supplies as factors contributing to the price volatility.