Oil Drops Near $102 as Traders Weigh Outlook for US-Iran Truce
US President Donald Trump in the Oval Office of the White House on March 24.
Photographer: Graeme Sloan/BloombergOil edged lower as traders deciphered contradictory messaging surrounding a diplomatic push by the US to end the war with Iran.
Global benchmark Brent settled near $102 a barrel. The possibility of a US resolution with Iran shaved away some of the risk premium that’s supported prices this month as the conflict upended global energy shipping.