Oil Prices Slip As Markets Watch Possible US-Iran Talks; Brent, WTI Head For Sharp Monthly Losses

Summary

Oil prices have edged lower as investors consider the possibility of new diplomatic talks between the United States and Iran. Brent crude futures are on track for a monthly decline of around twenty percent, while US West Texas Intermediate crude is poised for a monthly fall of roughly nineteen percent. Both benchmarks have nearly returned to the levels seen before the conflict began, with market sentiment supported by expectations that diplomatic engagement could help reduce geopolitical tensions.