Energy Preview: WTI crude oil seen supported above $70 per barrel mark

WTI oil prices continue to stay supported above $70 per barrel mark on Tuesday awaiting clarity on US and Iran peace talks. The two nations are reportedly scheduled to hold fresh peace talks on Tuesday in Doha, Qatar, following a weekend of renewed hostilities although media reports claim that Iran refutes the talks claim. Slightly pullback in dollar is also permitting an upside in oil prices that had slumped to their lowest level since early March this year when the Middle East war began. Upcoming weekly inventories data will be in focus going forward. Currently, the counter is up more than 2% at 470.42 per barrel. Brent is also up 1% at $72.55 per barrel.

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