Oil ticks higher as Iran's refusal to meet US envoys dims ceasefire hopes

Brent crude rose 0.69 percent to $73.45 a barrel and WTI climbed 0.91 percent to $70.13 as Iran's refusal to meet US envoys directly dimmed hopes for a Middle East ceasefire. The article notes Brent posted its largest quarterly loss since 2008 in Q2, falling about $45 per barrel, while analysts cut their 2026 oil price forecasts for the first time since the Iran war began. US crude inventories dropped 6.1 million barrels for the week ended June 26, with official EIA data due Wednesday.