Oil declines amid expectations of the resumption of talks between America and Iran

Oil prices fell for the second day in a row today, driven by expectations of the resumption of peace talks between the United States and Iran, and the resulting resumption of supplies from the main production region in the Middle East after they were halted due to the closure of the Strait of Hormuz.

Brent crude futures fell 52 cents, or 0.55 percent, to $94.27 a barrel at 00:54 GMT, after falling 4.6 percent in the previous session.

US West Texas Intermediate crude fell $1.04, or 1.1 percent, to $90.24 after falling 7.9 percent in the previous session.