Oil prices slip as Iran-Oman talks fuel hopes for US-Iran peace deal

TOKYO, Aug 6 : Oil prices slipped on Thursday as investors assessed whether progress in Iran-Oman talks could pave the way for a U.S.-Iran peace deal to end the five-month war and reopen the Strait of Hormuz. Brent crude futures fell 37 cents, or 0.5 per cent, to $79.08 a barrel by 0024 GMT. U.S. West Texas Intermediate futures declined 53 cents, or 0.7 per cent, to $74.69 a barrel. Brent settled up slightly on Wednesday, while WTI edged lower."Some selling pressure emerged following reports that talks between Iran and Oman are making progress," said Yuki Takashima, economist at Nomura Securities.Prices have simply returned to the levels seen when the United States and Iran signed an interim peace agreement on June 17, with investors closely watching whether the two sides can reach a final