US crude futures slip to $74.82 as US-Iran talks conclude first round

U.S. crude oil futures fell to $74.82 a barrel late Monday in global energy markets. Brent crude slipped 1.9% during the session to $79.04 a barrel, with analysts attributing the decline to the conclusion of the first round of high-level talks between the United States and Iran held in Switzerland. The two sides signaled progress on energy-related issues and Iran's oil exports, according to market commentary. The U.S. Treasury Department confirmed that Iran has upheld freedom of navigation in the Strait of Hormuz and issued a general license permitting the sale of Iranian oil for a two-month period. Analysts noted that prices in the market continue to be shaped by global supply expectations and the trajectory of the diplomatic process. No further details on the next round of negotiations were immediately available.