Oil prices declined Tuesday during Asia hours amid uncertainty over the fate of the second round of peace talks between the U.S. and Iran.
Reports suggest that Vice President JD Vance would lead the U.S. delegation to Pakistan, while Iran’s rhetoric so far indicates it is not ready for further negotiations.
“We do not accept negotiations under the shadow of threats, and in the past two weeks, we have prepared to reveal new cards on the battlefield,” Mohammad Bagher Ghalibaf, Iran’s parliamentary speaker, said Tuesday in a post on X.
U.S. President Donald Trump, meanwhile, has renewed threats of overwhelming military action against Iran, warning that “lots of bombs [will] start going off” if no agreement was reached before a fragile ceasefire expires Tuesday evening.
West Texas Intermediate futures for May delivery lost 1.51% to $88.26 per barrel, while international benchmark Brent crude futures for June delivery slid 0.68% to $94.87 per barrel. WTI and Brent had settled 7% and 5% higher on Monday.
