US Pushes Back on Iran Terms, Crude Futures Edge Higher

Crude oil futures edged higher on Tuesday as negotiations between the US and Iran continued to stall in New York. The developments follow Washington's decision to push back on Iran's terms, leading to a stalemate in talks.

The news contributed to an increase in crude prices, with futures nudging higher. This comes after the American Petroleum Institute reported a second weekly gain in US commercial crude inventories, while gasoline stocks rose.