Oil Prices Fall Amidst Middle East Peace Talks

Oil futures fell on Tuesday as attention turned to Middle East peace talks, though prices remain near multi-month highs as the Houthi-Saudi Arabia conflict rages and the potential for fresh US-Israeli attacks hangs over the market.

Brent crude futures were down $1.00, or 0.86%, at $114.81 a barrel by 1311 GMT. US West Texas Intermediate crude was down 78 cents, or 0.77%, at $100.98.

Iranian Security Council chief Mohsen Rezaei on Tuesday met Supreme Leader Ayatollah Mojtaba Khamenei a day after holding talks with representatives of Saudi Arabia, Turkey and Pakistan.

State media said Khamenei had emphasised the importance of pursuing Iran's interests and maintaining its conditions for ending the war.

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