Brent crude edged 2.5% higher on Tuesday and seems to have steadied around $100 per barrel at the time of writing, as US-Iran negotiations stall.
On the other hand, WTI dropped over 4% and is trading around $92.6 per barrel.
Overall, oil prices were declining since last Wednesday as the framework for a peace deal, or at least a longer and more encompassing ceasefire, between the US and Iran was seemingly on the verge of being agreed.
However, Iran accused the US of breaching the current ceasefire after Washington carried out what it described as defensive strikes in the southern part of the country.
Iran’s foreign ministry stated that the US attacks in the Hormozgan province, where Iranian media reported hearing explosions early Tuesday, amounted to a "serious violation" of the fragile ceasefire that has been in effect for almost seven weeks.
