International crude oil prices slipped on Wednesday after early gains, declining nearly 3 per cent from intraday highs as hopes of easing tensions between the United States and Iran weighed on market sentiment, reported news agency IANS.

Brent and WTI Retreat After Early Rally

Brent crude futures dropped to an intraday low of USD 102.79 per barrel, down about 2.9 per cent from the day’s high of USD 105.86. At the time of reporting, Brent was trading around USD 103.19 per barrel, nearly 1 per cent lower, reported IANS.