Oil dips as recovering Gulf exports ease supply fears, US-Iran diplomacy in focus

NEW DELHI/TOKYO: Oil prices fell 1 percent on Thursday as recovering crude exports from the Gulf and a ​surprise rise in US inventories eased supply concerns, while investors weighed renewed ‌US-Iran diplomatic efforts to end their conflict in the Middle East. Brent crude futures fell 1.1 percent to $96.92 a barrel by 07:20 a.m. Saudi time, and US West Texas Intermediate crude dropped 1.4 percent to $89.18 a barrel. Both benchmarks rose about $1 ​a barrel on Wednesday. Brent recorded a monthly g