Oil slides 2% from 7-year high on more U.S.- #Iran talks | Reuters

Oil slides 2% from 7-year high on more U.S.-Iran talks | Reuters

Oil slid about 2% on Tuesday as investors worried the resumption of indirect talks between the United States and Iran could revive an international nuclear agreement and allow more oil exports from the OPEC producer.

A deal could return more than 1 million barrels per day (bpd) of Iranian oil to the market, boosting global supply by about 1%. The nuclear talks resumed in Vienna on Tuesday. read more

Brent futures fell $1.78, or 1.9%, to $90.91 a barrel by 1:20 p.m. EST (1820 GMT), while U.S. West Texas Intermediate (WTI) crude fell $1.71, or 1.9%, to $89.61.

On Monday, Brent rose to $94 a barrel, its highest since October 2014. WTI hit $93.17 on Friday, its highest since September 2014.

"The U.S. government is attempting to tame oil prices by urgently negotiating a new nuclear agreement with Iran," said Louise Dickson, senior oil markets analyst at Rystad Energy.