Oil prices declined on Tuesday as financial markets reacted to signs of progress in negotiations between Washington and Tehran aimed at ending the US-Israeli war on Iran.
Brent crude fell 2.8 percent to $78.29 a barrel, moving closer to the roughly $70 level seen before the war, while US benchmark crude dropped 2.3 percent to $74.14 a barrel.
US Vice President JD Vance said talks held over the weekend had created a "good foundation for a successful final deal", helping ease concerns over potential disruptions to global energy supplies.
On Wall Street, the S&P 500 slipped 0.3 percent, remaining 1.7 percent below the record high it reached earlier this month. The Nasdaq Composite fell 1 percent, while the Dow Jones Industrial Average rose 131 points, or 0.3 percent.
