Qatar said on Tuesday mediators were making progress in efforts to end the U.S.-Iran war, driving oil prices lower, although Tehran has denied President Donald Trump's assertion that talks are already under way, Reuters reported.
Benchmark Brent crude fell more than 5% after the comments from Qatar, extending Monday's steep losses on hopes that an arrangement could soon be reached to restore traffic through the blockaded Strait of Hormuz. But for now, the strait remained virtually shut, with another ship coming under attack while trying to cross it.
