NEW YORK: Oil prices slid about 2% on Wednesday after paring deeper losses earlier in the trading session, as Iran reviewed a US proposal to end the war that has disrupted global energy flows from the Persian Gulf.

Brent futures fell US$2.27, or 2.2%, to settle at US$102.22 a barrel, while US West Texas Intermediate crude futures fell US$2.03, or 2.2%, to settle at US$90.32. Earlier in the session, Brent futures were down by as much as 7%.