WTI hovers around $81.50 as US-Iran peace talks stall
West Texas Intermediate (WTI) oil price moves little after registering gains over 6.5% in the previous day, trading around $81.40 during the Asian hours on Tuesday.
West Texas Intermediate (WTI) oil price hovers around $81.50 as talks between the United States and Iran stall. The price has seen gains over 6.5% the previous day, trading at $81.40 during Asian hours on Tuesday. Investors are increasingly concerned about the possibility of a deal to reopen the strategic Strait of Hormuz, following President Trump's new demands on Iran.
Iran's demands for reparations have made any agreement seem more difficult. Despite the US preferring to use economic pressure on Iran, diplomatic efforts to reopen the Strait remain stalled. Experts say a Hormuz deal is unlikely, and ongoing uncertainty is keeping oil prices stable. WTI is a benchmark for the oil market, and its price is influenced by supply and demand, global growth, political instability, and the value of the US Dollar.
Written by urgent.news from FXStreet's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
This story
This is one outlet's version. Read the fullest account.
