NEW YORK: Oil prices eased to a two-month low on Tuesday, after US officials downplayed the need for additional military action against Iran, easing fears of additional Middle East supply disruptions.
In early trade, prices fell by more than US$3 a barrel, but clawed back some losses after Iran's top security official Mohsen Rezaei said there are currently no negotiations taking place between Tehran and Washington, in an interview with pro-Iran broadcaster Al-Mayadeen.
