Oil Holds Gain as Iran Conducts Naval Drills Before US Talks

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000Iranian Naval Forces take part in an exercise in the Strait of Hormuz, in this handout photo released by the Press Office of Islamic Revolutionary Guard Corps on Feb. 16.Oil was steady after its biggest gain in a week, as Iran carried out naval drills near a major regional transit chokepoint before talks with the US later Tuesday.Brent traded below $69 a barrel, after adding 1.3% on Monday, while West Texas Intermediate was near $64. Iran’s Revolutionary Guard is conductingBloomberg Terminal naval drills in the “region of” the Strait of Hormuz, the vital waterway that ships about a fifth of the world’s barrels, the nation’s semi-official Tasnim news agency said.