Oil Prices Dip as Iran Signals Progress in Oman Talks on Hormuz

Oil prices slipped on Tuesday as Iran reported progress in discussions with Oman over an agreement related to the Strait of Hormuz.nnBrent crude futures fell by 33 cents, or 0.42%, to reach $79.12 per barrel, according to market data.nnThe decline came after Iranian officials indicated that talks with Oman had advanced, raising hopes of reduced tensions in the strategic waterway through which a significant share of global oil shipments pass.nn— Staff Report, Awam Kee Awaz