Oil prices fell after U.S. President Donald Trump said talks to end the war were moving forward. At the same time, Iran said it would allow “non-hostile” ships to pass through the Strait of Hormuz, a key waterway for oil shipments.
Global oil prices dropped 5% to about $99 a barrel. U.S. oil prices fell more than 5.5% to about $88 a barrel.
Trump said on Tuesday that peace talks were happening ‘now’ and that the people the U.S. is talking to “want to make a deal so badly.” But Iranian officials disagreed with this.
Officials in Tehran called the reports of talks ‘fake news’. A spokesperson for Iran’s Foreign Ministry said Tuesday night that “no one can trust US diplomacy.”
A spokesperson from Iran’s Foreign Ministry questioned whether anyone can trust the United States when it comes to diplomacy. He pointed out that the U.S. started the war and continues to carry out attacks.
Another Iranian official made a sharp comment, asking if the U.S. has now reached a point where it is negotiating with itself.
On Monday, Iranian officials called the reports of talks between the U.S. and Iran “fake news.” At the same time, strikes continued between Israel and Iran.
President Trump said that Vice President JD Vance and Secretary of State Marco Rubio are involved in discussions to end the war.
Trump also claimed that U.S. and Israeli strikes on Tehran have led to “regime change.” He repeated his assertion that Iranian leaders have agreed to never build a nuclear weapon.
But Iran has previously denied any contact with the U.S. and dismissed such claims as an attempt to influence markets.
