Andrew
Oil prices fell on Thursday as talks to resurrect a nuclear deal with Iran entered their final stages, but losses were capped by heightened tensions between top energy exporter Russia and the West over Ukraine.
Brent crude traded down $1.26, or 1.3 percent, at $93.55 a barrel by 0914 GMT. U.S. West Texas Intermediate (WTI) crude was down $1.34, or 1.4 percent, at $92.32.
Both contracts fell more than 2 percent earlier in the session.
“(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. – Reuters
Tinaye Agere
Online Reporter