HOUSTON: Oil prices fell on Tuesday as traders bet that talks over a possible agreement to legitimize or end Russia’s invasion of Ukraine could ease sanctions on Russian crude oil, boosting global supply.

Brent crude futures settled at $65.79 a barrel, down 81 cents, or 1.22%. U.S. West Texas Intermediate crude futures for September delivery, set to expire on Wednesday, finished at $62.35 a barrel, down $1.07, or 1.69%.

“Even with this peace dividend, we have a record short position,” said Phil Flynn, senior analyst........

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