NEW YORK: Oil prices receded slightly on Tuesday from their highest level since 2014 as investors held their breath for a decision from US President Donald Trump on Iran’s nuclear deal.
Analysts said they expected Trump not to walk away from the Iran deal without offering any compromise, a hope that lessened tensions in the oil market, allowing prices to slip back.
World stocks including the US’ were down, meanwhile, as the dollar climbed.
US stocks edged lower in early trading Tuesday, giving up gains from a day earlier. Losses in technology, health care and other sectors outweighed gains in industrial companies and banks. Energy stocks also fell as oil prices declined ahead of an afternoon announcement by the White House on whether the US will pull out of a landmark nuclear deal with Iran.
Oil recedes, US stocks edge lower ahead of Trump decision on Iran nuclear deal
Updated 08 May 2018
Oil recedes, US stocks edge lower ahead of Trump decision on Iran nuclear deal
- Oil prices receded slightly on Tuesday from their highest level since 2014
- Analysts said they expected Trump not to walk away from the Iran deal without a compromise
