Oil steadies as uncertainty over US-Iran talks keeps markets on edge

Oil prices held on to most of the previous session’s sharp gains in early trade on Tuesday on uncertainty over the status of ceasefire talks between the United States and Iran and the potential reopening of the ​Strait of Hormuz. U.S. President Donald Trump said on Monday talks with Iran were ongoing, while Tasnim news agency reported ‌that Tehran had suspended indirect negotiations with Washington. Brent crude futures inched up 6 cents, or 0.06%, to $95.04 a barrel at 0001 GMT, while U.S. West Texas Intermediate fell 17 cents, or 0.18%, to $91.99 a barrel. Both benchmarks rose more than 5% in the previous session but pared gains after ​U.S. President Trump said he had not been told that Iran was suspending talks with Washington and that Israel ​had agreed to pull back any troops that were preparing to attack southern Lebanon.