Oil hovers below $100 as Trump signals progress in Iran talks

AI Summary

Oil prices hovered below $100 a barrel as diplomatic progress between the U.S. and Iran raised hopes for increased Middle Eastern crude supply. Brent crude futures inched up slightly amid cautious investor assessment of developments in the Iran talks.

Oil prices sat below the $100-a-barrel level on Wednesday, as investors assessed signs of diplomatic progress between the U.S. and Iran and improving prospects for Middle Eastern crude flows. By 04:28 ET (08:28 GMT), Brent crude futures, the global oil benchmark, had inched up by 0.2% to $99.48 a barrel, while U.S. West Texas Intermediate ...