Ice Brent futures fell in early Asian trading after US president Donald Trump suggested the US could resume peace talks with Iran soon.
The Ice front-month June Brent contract was at $98.20/bl at 04:00 GMT, down by $1.19/bl from its settlement on 16 April when it ended $4.46/bl higher.
The Nymex front-month May crude contract was at $93.48/bl, lower by $1.21/bl from its settlement on 16 April when it ended $3.40/bl higher.
Trump said that the US and Iran could resume direct talks as early as this weekend — but he wants an agreement that would address all outstanding issues between the two countries.
"I could make a little deal, but I don't want to do that," Trump told reporters at the White House. His vice-president JD Vance, who spearheaded the first round of direct US-Iran talks in Pakistan on 11-12 April, said on 15 April that Trump wanted a "grand bargain" that would involve Iran giving up its nuclear programme in exchange for the US treating Iran "economically like a normal country".
Tump's remarks, at least in part, aimed to calm markets during an ongoing major disruption of the global oil and LNG supply. "The stock market is good," he said. "The oil prices are coming down, and it's looking very good that we're going to make a deal with Iran, and it's going to be a good deal."
The US has expanded the blockade it imposed on Iranian ports and coastal areas to include all Iranian vessels, sanctioned vessels and any vessel suspected of carrying contraband, regardless of location, according to a notice by the US Naval Forces Central Command.
Israeli prime minister Benjamin Netanyahu and Lebanese president Joseph Aoun "have agreed that in order to achieve PEACE between their Countries, they will formally begin a 10 Day CEASEFIRE", Trump posted on his social media platform.
Ice Brent futures fell in early Asian trading after US president Donald Trump suggested the US could resume peace talks with Iran soon.
The Ice front-month June Brent contract was at $98.20/bl at 04:00 GMT, down by $1.19/bl from its settlement on 16 April when it ended $4.46/bl higher.
The Nymex front-month May crude contract was at $93.48/bl, lower by $1.21/bl from its settlement on 16 April when it ended $3.40/bl higher.
Trump said that the US and Iran could resume direct talks as early as this weekend — but he wants an agreement that would address all outstanding issues between the two countries.
"I could make a little deal, but I don't want to do that," Trump told reporters at the White House. His vice-president JD Vance, who spearheaded the first round of direct US-Iran talks in Pakistan on 11-12 April, said on 15 April that Trump wanted a "grand bargain" that would involve Iran giving up its nuclear programme in exchange for the US treating Iran "economically like a normal country".
Tump's remarks, at least in part, aimed to calm markets during an ongoing major disruption of the global oil and LNG supply. "The stock market is good," he said. "The oil prices are coming down, and it's looking very good that we're going to make a deal with Iran, and it's going to be a good deal."
The US has expanded the blockade it imposed on Iranian ports and coastal areas to include all Iranian vessels, sanctioned vessels and any vessel suspected of carrying contraband, regardless of location, according to a notice by the US Naval Forces Central Command.
Israel will cease military operations in Lebanon, Trump said on 16 April, citing conversations with the leaders of Israel and Lebanon.
Israeli prime minister Benjamin Netanyahu and Lebanese president Joseph Aoun "have agreed that in order to achieve PEACE between their Countries, they will formally begin a 10 Day CEASEFIRE", Trump posted on his social media platform.
By YouLiang Chay