Crude futures traded mixed midday Tuesday as markets weighed conflicting signals surrounding U.S.-Iran negotiations.
As of 11:40 a.m. ET, the July West Texas Intermediate contract traded 7cts lower at $92.09/bbl, with August WTI up 6cts at $89.20/bbl. The August ICE Brent crude contract was trading 8cts lower at $94.90/bbl, with September up 5cts at $92.49/bbl.
Refined product futures were trading higher, with the July RBOB contract up 3.72cts at $3.1219/gal and August up 3.65cts at $3.053/gal. The July ULSD contract rose 2.17cts to $3.6611/gal, while August was up 2.28cts at $3.6002/gal.
Crude futures gave back some of Monday's gains. Prices surged in the previous session after Iranian media reports indicated Tehran had suspended talks with Washington amid Israel's military actions in Lebanon.
Monday's rally eased after President Donald Trump said negotiations with Iran were continuing and that Israeli Prime Minister Benjamin Netanyahu had called off planned attacks in Lebanon.
