The record
Written from the 1 report below. Nothing here is unsourced.
- Oil prices fell more than $1 per barrel on Tuesday, with Brent dropping to $86.89 and WTI to $81.16, their lowest levels since July 20.
- The decline came after US President Donald Trump said Washington was holding "good talks" with Iran, easing concerns about disruptions to global energy supplies.
- Prices were also pressured by the resumption of oil loadings at a Russian Black Sea terminal after a week-long suspension.
- However, risks remain, as both sides warned of renewed hostilities if talks fail, and supply concerns persist amid drone attacks on Saudi petroleum facilities and reduced exports through the Strait of Hormuz.
What to watch next
- Whether US-Iran negotiations progress or military strikes resume, as both sides have warned
- Flow of exports through the Strait of Hormuz, currently well below normal levels
- Further attacks on energy infrastructure, including continued drone targeting of Saudi facilities
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Named United States · Iran · Russia · Saudi Arabia · Yemen · Ukraine · Brent Crude · Caspian Pipeline Consortium · West Texas Intermediate · Barclays · Donald Trump · Houthis · Reuters
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