Oil steadies near one-week highs as US-Iran peace deal hopes dim

Oil prices steadied on Tuesday at more than ‌one-week highs amid fading hopes of a deal between the US and Iran to end their war and reopen the Strait of Hormuz, after President Donald Trump demanded compensation for damage the US has ​incurred. Brent crude futures were flat at $87.81 a barrel by 0013 GMT, while US West ​Texas Intermediate crude futures held at $82.20 a barrel. Both benchmarks rose more than ⁠5% on Monday to their highest since July 31, after Trump responded to Iran’s conditions ​for a peace deal with his own demands that Iran pay compensation for people killed ​in wars, attacks and protests, which is likely to complicate efforts to reopen the Strait of Hormuz.