Oil slips after US-Iran conclude talks in Switzerland

Oil prices slid on Monday after US-Iran talks concluded ​in Switzerland with Tehran saying it had secured waivers for oil and petrochemical exports, easing worries about a ‌supply shortage in global markets. Brent crude fell $1.53, or 1.90%, to $79.04 a barrel by 0656 GMT. Prices had earlier climbed to $82.30 at the start of trading, fuelled by a bumpy start to the talks with threats from US President Donald Trump to restart the war on Iran and Tehran's announcement it ​had again closed the Strait of Hormuz.