Oil prices reversed early gains on Tuesday amid optimism that prospects for a diplomatic solution to the U.S.-Iran war are improving.
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Oil fell Wednesday, amid hopes of a diplomatic solution to the conflict in the Middle East after Iran and the U.S. had talks. Grouped from 11 articles across 5 sources.
Shortage of biggest supertankers has more than doubled rates on key Middle East-China routes since late August
President Donald Trump said Iran faces "potential greatness or obliteration," after his team met with the Iranian delegation in New York Tuesday.
Tehran's proposal could pave the way for restoring traffic through the Strait of Hormuz, reviving fragile hopes for a diplomatic off-ramp.
Brent crude falls below $99 a barrel in Asian trading amid talks over Middle East conflict
Iran has offered to reopen the strait within seven days if the US takes initial steps toward easing military pressure.