Oil price steadies as Russian output view balances Iran tension

Brent for August settlement lost 34 cents, or 0.5 per cent, to $64.52 a barrel on London's ICE Futures Europe Exchange. It dropped 0.5 per cent on Monday

Oil steadied after rallying almost 8 per cent in three days as investors weighed mixed signals from the White House on Iran and signs that an extension of the Opec+ production cuts may not be a fait accompli.
 
Futures in New York edged lower after being down as much as 1.2 per cent earlier. President Donald Trump imposed sanctions on Iran’s supreme leader, Ayatollah Ali Khamenei on Monday, while also asking in a tweet why the US is protecting the Strait of Hormuz, the world’s most important oil choke-point. Iran said the US move has shut the path to