Oil prices stabilised on Tuesday after a more than $1 slide on Monday amid hopes the U.S. would ease sanctions on producer Venezuela and as Washington stepped up efforts to prevent an escalation of the war between Israel and Hamas.
Brent crude futures were up 3 cents at $89.68 a barrel, while U.S. West Texas Intermediate crude (WTI) were down 11 cents at $86.55 a barrel as of 0113 GMT.
Venezuela’s government and opposition are set to resume long-suspended talks on Tuesday that President Nicolas Maduro said would benefit the upcoming 2024 election, a move that could lead to Washington easing sanctions, multiple sources said.
