Oil falls, caught between Iran talks and Ukraine crisis | Reuters
Oil prices fell 2% on Thursday as talks to resurrect a nuclear deal with Iran entered their final stages, but losses were limited by heightened tensions between top energy exporter Russia and the West over Ukraine.
Brent crude traded down $1.98, or 2.1%, at $92.83 a barrel at 1413 GMT. U.S. West Texas Intermediate (WTI) crude was down $1.99, or 2.1%, at $91.67.
"(The) oil market is locked in a tug of war between Iranian sanctions relief and Russian-Ukraine tensions," said Stephen Brennock at brokerage PVM Oil.
The United States is in "the midst of the very final stages" of indirect talks with Iran, aimed at salvaging a 2015 deal limiting Tehran's nuclear activities, State Department spokesperson Ned Price said on Wednesday. read more
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