Oil retreats after hitting highs before Iran nuclear talks
Brent crude futures for August and US West Texas Intermediate crude for July retreat
07 June 2021 - 07:42
Singapore — Oil pulled back after hitting fresh multiyear highs on Monday, as investors awaited the outcome of this week’s talks between Iran and world powers over a nuclear deal that is expected to boost crude supplies.
Brent crude futures for August fell 26c or 0.4%, to $71.63 a barrel by 4.18am, after earlier hitting $72.27, their highest since May 2019. US West Texas Intermediate crude for July touched $70 for the first time since October 2018 but retreated to $69.43 a barrel, down 19c, or 0.3%...
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