Oil prices fell on fresh hopes that elusive peace talks between the US and Iran may materialize after all and pave the way for the resumption of energy flows though the vital Strait of Hormuz.
West Texas Intermediate futures fell 1.5% to settle above $94 a barrel. The White House said it was sending two envoys to Pakistan with the intention of talking with Iranian officials also slated to be in Islamabad. But Tehran still sounded a pessimistic tone on the prospects for talks.
