Oil prices fall as tensions ease, stocks mostly advance

Oil prices fell Tuesday on easing geopolitical concerns surrounding major crude producers Iran and Russia while stock markets mostly moved higher.

Talks to revive a deal with Iran on its contested nuclear program resumed in Vienna after officials signaled an agreement was “in sight.”

“There is a US offer, there is a counter-offer,” said the European Union’s foreign policy chief Josep Borrell.

“I don’t if know it’s going to be one week, two weeks, three weeks, but certainly we are in the last steps of the negotiation.”

Oil prices fell about two per cent.