OIL flipped between gains and losses as traders weighed signs of rapidly depleting US reserves against efforts by the US and Iran to seek further talks to end a war that has brought transit through the vital Strait of Hormuz waterway to a near-halt. 

West Texas Intermediate traded around US$92 a barrel, roughly back to its level before peace negotiations broke down over the weekend, after losing almost 8 per cent on Tuesday. Washington and Teheran are considering extending their ceasefire that ends on Tuesday by another two weeks to allow more time to negotiate a peace agreement, according to a person familiar with the matter.

https://www.businesstimes.com.sg/companies-markets/energy-commodities/oil-fluctuates-prospect-fresh-peace-talks-hormuz-shut