After moving notably higher earlier in the day, the price of crude oil has come under considerable selling pressure over the course of the trading day on Tuesday.
Crude for April delivery is slumping $0.71 or 1.1 percent to $66.31 a barrel after jumping as much as $0.84 or 1.3 percent to a high of $67.15 a barrel.
The pullback by the price of crude oil comes as traders look ahead to a third round of nuclear talks between the U.S. and Iran on Thursday in Geneva.
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Market Analysis
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.