Texas oil falls 0.89%, to $62.33 a barrel
The price of West Texas Intermediate (WTI) crude oil fell this Tuesday by 0.89%, to $62.33 a barrel, as nuclear negotiations between the United States and Iran advance. EFE At the close of trading on the New York Stock Exchange, WTI futures contracts for March delivery lost 56 cents of [...]
TL;DR
- WTI crude oil price decreased by 0.89% to $62.33 per barrel.
- Nuclear negotiations between the US and Iran concluded with "good progress" and agreement on "guiding principles."
- A final deal between Iran and the US is not expected soon, despite advancements.
- Iran will conduct naval exercises, temporarily closing parts of the Strait of Hormuz.
- The Strait of Hormuz is a critical route, handling about a third of seaborne crude oil exports.