Oil prices eased on Tuesday as profit-taking followed the previous session’s rally
Oil prices fell on Tuesday as investors locked in profits following sharp gains in the previous session, while markets remained cautious as they monitored developments in peace efforts and negotiations between the US and Iran. 
The decline came after US President Donald Trump said talks were continuing, despite Iranian media reports that Tehran had suspended the diplomatic discussions, Reuters reported.
Brent, WTI Futures Prices
Crude
Price ($/bbl)
Change ($)
Change
Brent (August delivery)
94.15
(0.83)
(0.85%)
US WTI (July delivery)
91.24
(0.92)
(1.00%)
Ship-tracking data showed US crude oil exports surged to a record 5.6 million barrels per day in May, as Asian and European refiners turned to US supplies as a safer alternative to offset shortages stemming from the Middle East crisis.
Markets are also awaiting US crude inventory data from the American Petroleum Institute later on Tuesday, ahead of official figures from the US Energy Information Administration due on Wednesday.
Oil prices eased on Tuesday as profit-taking followed the previous session’s rally
Oil prices fell on Tuesday as investors locked in profits following sharp gains in the previous session, while markets remained cautious as they monitored developments in peace efforts and negotiations between the US and Iran.
The decline came after US President Donald Trump said talks were continuing, despite Iranian media reports that Tehran had suspended the diplomatic discussions, Reuters reported.
Brent, WTI Futures Prices
Crude
Price ($/bbl)
Change ($)
Change
Brent (August delivery)
94.15
(0.83)
(0.85%)
US WTI (July delivery)
91.24
(0.92)
(1.00%)
Ship-tracking data showed US crude oil exports surged to a record 5.6 million barrels per day in May, as Asian and European refiners turned to US supplies as a safer alternative to offset shortages stemming from the Middle East crisis.
Markets are also awaiting US crude inventory data from the American Petroleum Institute later on Tuesday, ahead of official figures from the US Energy Information Administration due on Wednesday.
