Oil Prices Slip on Hormuz Talks and US Stock Data
Oil prices settled lower following a choppy session as investors monitored talks between Iran and Oman regarding the Strait of Hormuz. Meanwhile, official data showed that United States crude inventories rose by less than expected last week.
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Brent Crude Oil futures fell 74 cents, or 0.84%, to settle at $87.84 a barrel on Wednesday afternoon. The decline came as traders monitored talks between Iran and Oman regarding the Strait of Hormuz. Both benchmarks reached their lowest levels since August 10 during the choppy session.
