Oil prices edge lower as investors weigh signals that Gulf states and Iran are closing in on a deal to reopen the Strait of Hormuz under a temporary arrangement aimed at allowing for broader talks to bring the Iran war to a close, Reuters reports.
Brent crude futures were down 57 cents, or 0.7 per cent, at $81.92 a barrel at 1014 GMT.
US West Texas Intermediate futures have fallen 33 cents, or 0.4pc, to $76.96.