Oil Extends Slump on Iran Talks Optimism and Saudi Pipeline Outlook

West Texas Intermediate fell below $90 a barrel on Tuesday after losing about 10% over five days, while Brent settled near $99.

President Donald Trump reported a productive US meeting with Iranian envoys regarding ending their war, alongside planned future talks.

Saudi Arabia aims to restore oil exports through its damaged East-West pipeline in coming days, enabling a bypass of the Strait of Hormuz.