Oil Steadies as Progress on Iran Talks Undercuts Tariff Reprieve

Oil held steady as traders weighed the latest US moves in the global trade war, as well as the prospect of looser restrictions on Iranian crude.

West Texas Intermediate settled little changed near $61.50 a barrel, and Brent held below $65. While equities rallied after US President Donald Trump paused import duties on some electronics, fresh data revealing that American consumers see higher inflation in the year ahead weighed on oil futures.

The US and Iran met on Saturday for nuclear talks that both sides described as constructive, raising the possibility of higher oil volumes from the OPEC member. ...