Texas oil falls 0.62% with an eye on the United States and Iran
The price of West Texas Intermediate (WTI) crude oil fell by 0.62% this Tuesday, to $63.96 a barrel, while traders have their eyes set on the United States and Iran. EFE At the close of trading on the New York Stock Exchange, WTI futures contracts for March delivery fell $0.40 from the previous close.
TL;DR
- WTI crude oil prices fell 0.62% to $63.96 per barrel.
- Market focus is on US-Iran relations and their impact on nuclear negotiations.
- Iran's foreign minister expressed doubts about US seriousness due to sanctions and military actions.
- Recent US actions, including a presidential visit and executive orders on tariffs, have heightened tensions.
- Analysts believe oil prices will only fall if supply disruptions are confirmed.