Oil prices steady near week high as prospect of Iran supply glut wanes
TOKYO (Reuters) – Oil prices were steady on Tuesday, holding around one-week highs after jumping more than 3% the previous session as prospects of an early return of oil exporter Iran to international crude markets lessoned.
Brent crude futures were down 6 cents at $68.40 a barrel by 0039 GMT, having jumped 3% on Monday. U.S. West Texas Intermediate futures fell 8 cents to $65.97 a barrel, after gaining 3.9% the previous session.
Indirect negotiations between the United States and Iran are due to resume in Vienna this week. Talks were given another life after Tehran and the U.N. nuclear agency extended a monitoring agreement on the Middle Eastern country’s atomic programme.
