Trump's Iran Talks Ease Oil Price Worries Amid Dollar Strength
Oil prices fell to below $82 per barrel on Tuesday as US President Donald Trump's comments on Iran eased concerns about Middle East supply disruptions.
Trump said 'good talks' with Iran were underway, aiming to end the conflict and restore normal oil supplies. He also suspended further strikes on Iran, allowing negotiations another chance to succeed.
Iranian and Omani negotiators met over the weekend in an effort to reach an agreement that would restart shipping activity through the Strait of Hormuz, a key global energy transit route.
The pause in US strikes on Iran pushed oil prices lower and reduced some inflation fears, but US Treasury yields declined only modestly compared with movements in other markets overnight. The dollar index edged up 0.03% to 101.55.