New Delhi, July 30 -- Crude oil prices eased in Thursday's trade (July 30) as investors weighed ongoing talks between Iran and Oman over reopening the Strait of Hormuz, even as the United States launched fresh strikes on Iran. Brent crude slipped below $90 a barrel after surging 7.9% in the previous session.

US benchmark WTI crude also slipped below $83 a barrel, giving up part of its 6.5% gain from the previous session.

The decline followed reports that talks between Iran and Oman over the management of the Strait of Hormuz are continuing, according to Reuters, citing the Iranian Labour News Agency.

Iran's Deputy Foreign Minister Saeed Gharibabadi said on Thursday that Tehran had proposed a joint arrangement under which Iran and Oman ...