Oil prices continue to slide as peace talks progress (opens original article in a new tab)

Oil prices dropped as US-Iran peace talks advanced, with sanctions relief and increased crude shipments through the Strait of Hormuz contributing to the decline.

• Brent crude fell to $77.51 per barrel, WTI to $73.62 as US-Iran peace talks progress.
• US to lift sanctions on Iran's oil industry for 60 days during ceasefire.
• Three supertankers with 6 million barrels of Iranian crude passed through Strait of Hormuz.