BEIJING/SINGAPORE: Oil prices eased on Thursday after gains in previous sessions, as attention turned to expectations of weaker global oil demand this year, while there was no progress on opening the vital Strait of Hormuz.
Brent futures slipped 42 cents, or 0.47 percent, to $88.56 a barrel by 07:05 a.m. Saudi time, trimming gains made over the previous six sessions.
West Texas Intermediate crude fell 55 cents, or 0.66 percent, to $82.72, after advancing over the past five sessions.
A senior Iranian source said on Wednesday there had been no progress in talks to revive an interim deal agreed in June and define a timeframe to implement it.
“There was little in the way of fresh developments between the US and Iran, with both sides remaining in a deadlock,” said ING analysts in a note on Thursday.
