Oil prices fall 1% as investors weigh pause in US strikes on Iran

July 28 : Oil prices fell 1 per cent on Tuesday as market participants continued to weigh a pause in U.S. strikes on Iran, which has raised hope of a diplomatic solution to their conflict and the normalisation of Middle East energy flows.Brent crude futures were down $0.54, or 0.6 per cent, at $87.82 by 0046 GMT. U.S. West Texas Intermediate crude was at $81.95 a barrel, down $0.66, or 0.8 per cent.Both contracts fell 1 per cent earlier in the session to their lowest level in more than a week.U.S. President Donald Trump said on Monday the United States was having "good talks" with Iran and that there was a chance of a resolution. However, he said U.S. strikes would resume if negotiations failed while Iran issued similar comments about retaliation. "For now, the relief that an off-ramp has