Oil steadies near one-week highs as US-Iran peace deal hopes dim

Aug 11 : Oil prices steadied on Tuesday at more than one-week highs amid fading hopes of a deal between the U.S. and Iran to end their war and reopen the Strait of Hormuz, after President Donald Trump demanded compensation for damage the U.S. has incurred.Brent crude futures were flat at $87.81 a barrel by 0013 GMT, while U.S. West Texas Intermediate crude futures held at $82.20 a barrel.Both benchmarks rose more than 5 per cent on Monday to their highest since July 31, after Trump responded to Iran's conditions for a peace deal with his own demands that Iran pay compensation for people killed in wars, attacks and protests, which is likely to complicate efforts to reopen the Strait of Hormuz.Later in the day he added that the U.S. had control of the strait and had swept the strategic oil w