Black commodity trade slipped from a seven -year high following the resumption of Iranian -US nuclear talks.
Positive signals by Washington and Tehran have raised little confidence that both sides are working to revive a nuclear deal that will inevitably lead to the resumption of crude oil exports from Iran.
Following the report, oil trade declined by more than 2% due to concerns that supply in the market would increase.
But in today's Asian session, black commodities were seen recovering slightly after seeing reports of US crude oil supplies showing an unexpected decline last week.
Most recently, the American Petroleum Institute (API) reported U.S. oil inventories declined by 2 million barrels exceeding expectations for a decline of just 675,000 barrels.
In addition, data from API also showed petrol supply declined by 1.1 million barrels last week, while distillery stocks decreased by 2.2 million barrels.
At the time of writing, Brent crude futures traded steady at $ 90.90 a barrel, while US WTI traded slightly down around $ 89.45 a barrel.
