Oil falls as markets await outcome of Iran-US talks, US stocks data

LONDON, July 1 (Reuters) - Oil prices fell on Wednesday as talks between Iran and the U.S. aimed at reaching a final agreement to end their war continued and ‌the market awaited data from the U.S. regarding stock draws.

Brent futures fell 62 cents, or ‌around 0.9%, to $72.33 a barrel at 1156 GMT, while U.S. West Texas Intermediate crude was down 38 cents, or around 0.6%, at $69.12 ​a barrel - its lowest since February 27.

"Stuttering talks between the U.S. and Iran are raising concerns of fresh supply disruptions. On the other hand, investors are confident that whatever issues are hindering negotiations will be resolved soon," said PVM Associates analyst Tamas Varga.

"All in all, the downside bias is intact, hard data in the form of ‌stock depletion or the re-closure of ⁠the strait might alter the prevailing mood."

The U.S. and Iran held technical talks in Doha as they seek to agree on the flow of shipping through the Strait ⁠of Hormuz and secure a lasting ceasefire, a source with direct knowledge of the talks and an Iranian official said.

Brent fell by around $45 a barrel in the second quarter of this year, its largest quarterly loss since the ​global financial ​crisis in 200

Fuente original: Yahoo Finance (https://finance.yahoo.com/energy/articles/oil-ticks-higher-irans-refusal-004441406.html)