Washington, July 29 (SANA) Oil prices closed nearly 5 percent lower on Tuesday, reaching their lowest levels in two weeks amid cautious hopes that the halt in fighting between the United States and Iran could pave the way for talks to end the war.
According to Reuters, Brent crude fell 4.8 percent to settle at $84.09 per barrel, while US West Texas Intermediate declined 4.1 percent to $79.26 per barrel.
Brent recorded its lowest settlement since July 13 and WTI since July 16, after both benchmarks lost about 16 percent over the past three days.
Despite the pause in hostilities, Washington and Tehran remain far from resolving the disputes that led to the closure of the Strait of Hormuz, which had carried about one-fifth of global oil supplies before the war.
M.F / ABD
