Oil slips from record seven-year high ahead of indirect US-Iran talks
Oil prices eased on Tuesday ahead of the resumption of indirect talks between the United States and Iran which may revive a nuclear deal that could lead to the removal of sanctions on Iranian oil sales, increasing global supplies.
Brent crude was last down 48 cents, or 0.24%, at $92.47 a barrel by 0716 GMT, after hitting a seven-year high of $94 on Monday. U.S. West Texas Intermediate crude was down by 14 cents, or 0.16%, at $91.18 a barrel.
Both oil contracts have touched recent seven-year tops, supported by strong global demand, ongoing tensions in Eastern Europe and potential supply disruptions due to cold U.S. weather conditions.
