Oil prices slip as Iran-Oman talks fuel hopes for US-Iran peace deal

Oil prices slipped on Thursday as investors assessed whether progress in Iran-Oman talks could pave the way for a U.S.-Iran peace deal to end the five-month war ​and reopen the Strait of Hormuz. Brent crude futures fell 37 cents, or 0.5%, to $79.08 ‌a barrel by 0024 GMT. US West Texas Intermediate futures declined 53 cents, or 0.7%, to $74.69 a barrel. Brent settled up slightly on Wednesday, while WTI edged lower. “Some selling pressure emerged following reports that talks between Iran and ​Oman are making progress,” said Yuki Takashima, economist at Nomura Securities.