Oil Talks Ease Fears; Ships Cross Key Strait

Crude oil futures fell for a second straight day on Tuesday. The decline came as ships continued to move through the Strait of Hormuz, a vital waterway for global oil supplies, while the United States and Iran held further talks through mediators. Traders saw the steady flow of tankers as a sign that supply disruptions are unlikely, boosting optimism that diplomatic efforts are making progress. The negotiations, though indirect, have eased fears of a sudden halt in oil shipments from the region. The back-to-back losses reflect a shift in market sentiment away from panic buying. Analysts say the focus is now on whether the talks can produce a lasting agreement.