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Commodities

Oil Prices Tumble Amid Diplomatic Progress in Middle East

Guavy AI Editorial Team
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Oil
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Oil prices continued to be influenced by tensions in the Middle East on Wednesday, but eased slightly as diplomatic efforts showed signs of progress.

The Brent futures price fell 0.03% to $79.34 per barrel, while WTI futures dropped 0.46% to $75.42 per barrel.

The Strait of Hormuz remains a key point of contention between Iran and the US, with analysts warning that uncertainty around shipping through this waterway will keep traders on edge.

President Donald Trump said 'talks all day long' had taken place with Iran on Tuesday, but Tehran denied any talks were underway.

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