Oil prices ease on hopes of new US-Iran peace talks
4/14/2026 12:06:34 PM
Oil prices dipped on Tuesday as hopes of more peace talks between the US and Iran eased concerns about further disruptions to energy supplies.
The price of global benchmark Brent crude fell by about 1% to $98.40 (£72.85) a barrel, while US-traded oil dropped by 1.7% to $97.40.
President Donald Trump said that Tehran had contacted Washington about a potential agreement.
Earlier, oil prices jumped above $100 a barrel following Trump's order to blockade Iran's ports after negotiations failed between the two sides at the weekend.
Speaking to reporters outside the White House on Monday, Trump said: "I can tell you we've been called by the other side. They'd like to make a deal very badly."
Separately, the New York Times reported that Iran had proposed suspending uranium enrichment for up to five years, an offer rejected by the US which insisted on 20 years.
The report, which cited Iranian and US officials, also said Washington and Tehran had traded proposals for suspending Iran's nuclear activity during talks in Pakistan, but remained far from an agreement.
The price of global benchmark Brent crude fell by about 1% to $98.40 (£72.85) a barrel, while US-traded oil dropped by 1.7% to $97.40.
President Donald Trump said that Tehran had contacted Washington about a potential agreement.
Earlier, oil prices jumped above $100 a barrel following Trump's order to blockade Iran's ports after negotiations failed between the two sides at the weekend.
Speaking to reporters outside the White House on Monday, Trump said: "I can tell you we've been called by the other side. They'd like to make a deal very badly."
Separately, the New York Times reported that Iran had proposed suspending uranium enrichment for up to five years, an offer rejected by the US which insisted on 20 years.
The report, which cited Iranian and US officials, also said Washington and Tehran had traded proposals for suspending Iran's nuclear activity during talks in Pakistan, but remained far from an agreement.