Oil prices tumbled Tuesday as traders once again priced in a U.S.-Iran agreement before anyone had actually signed one. West Texas Intermediate was trading at $75.64 per barrel, down $4.70, or 5.85%, while Brent had fallen $4.61 to $79.16.
Treasury Secretary Scott Bessent said a deal could come Tuesday or Wednesday, while Secretary of State Marco Rubio said talks involving Iran and Oman had made progress.
Iran, naturally, offered a less tidy version. Tehran has denied holding direct talks with Washington and says it is negotiating through mediators in Oman.
Oil markets continue to whip between peace headlines and missile strikes while physical flows remain badly impaired.
