Oil prices fluctuate as status of US-Iran peace talks remains unclear
Summary
Oil prices changed during early trading in Asia as talks between the US and Iran about peace remain uncertain. President Donald Trump said he will extend a ceasefire with Iran but will keep blocking Iran’s ports until Iran offers a clear plan.Key Facts
- Global oil prices went up then slightly fell on Wednesday morning in Asia.
- Brent crude oil dropped 0.2% to $98.32 per barrel.
- West Texas Intermediate oil fell 0.3% to $89.41 per barrel.
- President Donald Trump extended a ceasefire with Iran without setting a new end date.
- The US continues to block Iranian ports until Iran gives a unified proposal.
- The initial ceasefire was supposed to end Tuesday evening Washington time.
- Vice President JD Vance, leading US talks, will not visit Pakistan as planned.
- Iran has not decided if it will send representatives to talks in Pakistan.
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