Oil prices lose ground on hopes of de-escalation in US-Iran tensions

Oil prices dipped slightly as U.S.-Iran talks showed progress, easing fears of supply disruptions. Brent and WTI crude are near two-week lows. While an understanding on nuclear dispute principles was reached, a deal isn't imminent. Rising output at Kazakhstan's Tengiz field also pressured prices. Market eyes U.S. inventory data for further direction.