India, June 9 -- Oil prices were sharply lower on Tuesday as a halt in hostilities between Israel and Iran boosted hopes that peace negotiations could move forward.
Brent crude futures fell more than 2 percent to $92.33 a barrel, after having hit as high as $98 a barrel in the overnight U.S. trading session. WTI crude futures were down 2.5 percent at $89.04.
Geopolitical tensions eased somewhat as Israel and Iran agreed to halt attacks against each other following a series of mutual attacks from Sunday night, which marked the most serious escalation since the ceasefire in April.
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