Oil markets fell on Tuesday morning as traders await the next round of Iran-US talks in Doha and follow the situation in the Strait of Hormuz.

Accordingly, Brent crude oil futures for August delivery were at $72.26 a barrel on the ICE Futures stock exchange in London, down $0.89 (1.22%) from their previous close. On Monday, they had risen $1.16 (1.6%) to $73.15 a barrel.

August Brent crude futures expire on Tuesday. The most actively traded September futures fell $0.45 (0.61%) to $73.46 a barrel.

And August WTI crude oil futures dropped $0.67 (0.95%) to $70.08 a barrel in online trading on the New York Mercantile Exchange (NYMEX). They had risen $1.52 (2.2%) to $70.75 a barrel in the previous trading session.