Oil prices rose after Iran signaled it had no intention of holding direct talks with the United States.

Stock markets had originally rebounded on Monday said Trump said he would hold off strikes on Iran.

Oil prices fell 5% after Donald Trump that Washington and Tehran are "in negotiations right now" and indicated Iran is keen to reach a peace agreement.

The US president said talks to end the war are underway with Iran - a claim that officials in Tehran have disputed.

Oil prices rose after Iran signaled it had no intention of holding direct talks with the United States.

Brent crude tops $104 a barrel as hopes fade for deescalation in US-Israel war on Iran.