Crude oil prices remained steady in Asian trading as investor focus turned to the Iran nuclear talks that are set to resume on Tuesday.
Futures of WTI fell 0.05% to $91.29 per barrel after rallying to the highest level since 2014. While Brent futures fell 0.15% to $92.55 per barrel.
Futures in New York fell 1.1% on Monday as a red-hot rally that’s propelled oil to the highest since 2014 took a breather. Confidence-building gestures by Washington and Tehran have sparked some optimism that the two sides are inching toward reviving a nuclear deal that would lead to a resumption of official crude exports from the Persian Gulf producer.
Gasoline prices in the U.S. however saw further tightening with nation’s biggest refinery unexpectedly shut down along with other plants on the Gulf Coast. That could mean more pain at the pump for drivers, after the motor fuel rose to the highest in more than seven years last week.
