Crude oil futures ended lower with cut of over one percent on Tuesday weighed down by private report saying there are signs of progress in the Iran nuclear talks. According to a private report, Russian ambassador to the UN Mikhail Ulyanov is quoted as saying that significant progress had been made in talks between the US and Iran with regard to reviving a deal restricting Iran's nuclear weapons development. Traders were also weighing global energy demand prospects amid the continued surge in coronavirus cases in Asian countries, including India, Japan and China.
Crude oil futures for June fell $0.78 or about 1.2 percent to settle at $65.49 barrel on the New York Mercantile Exchange. July Brent crude lost $0.72 or 1.02 percent to settle at $68.74 a barrel on London's Intercontinental Exchange.