Saturday, July 5, 2025

Oil Prices Dip Slightly as Markets Eye U.S.-Iran Talks and Ukraine Ceasefire

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International oil prices slightly dropped on Tuesday, breaking a two-day upward streak.

Investors adopted a cautious stance amid the uncertain outlook for nuclear talks between the United States and Iran, as well as ceasefire negotiations in the ongoing Ukraine war.

Brent crude, the global oil benchmark, settled at 65.38 USD per barrel for July delivery, down 0.16 USD (0.24%) from the previous session.

Similarly, West Texas Intermediate (WTI), the U.S. oil benchmark, saw its June futures contract slip 0.13 USD (0.21%) to close at 62.56 USD per barrel.

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