Oil prices have taken a tumble... as geopolitical factors ease concerns of a supply shortage.
The benchmark West Texas Intermediate fell by 2 percent on Tuesday, to just under sixty-nine U.S. dollars a barrel, while Brent crude slipped one percent to seventy-four dollars.
The decline followed reports that U.S. and Chinese officials are seeking to end their trade conflict,... and as President Donald Trump offered to talk to Iranian officials "any time."
Oil shortage fears were also put to rest by an OPEC report showing output increased in July.