US President Donald Trump has indicated that negotiations with Iran could restart within days, even as Washington presses ahead with a naval blockade targeting Iranian ports during a fragile ceasefire.
Speaking to the New York Post, Trump suggested diplomatic movement could come “over the next two days”, signalling a possible revival of talks that collapsed over the weekend.
Global crude oil prices slipped below the key $100 mark amid renewed optimism that the US and Iran could resume negotiations in Islamabad later this week.
Oil benchmarks declined for a second straight session, with prices easing as markets reacted to signals of possible diplomatic progress following last weekend’s failed talks.
Brent crude fell to around $94–98 per barrel, while US West Texas Intermediate (WTI) dropped closer to $90, reflecting easing concerns over prolonged supply disruptions.
The decline comes after crude had surged above $100 earlier this week when negotiations between Washington and Tehran collapsed, triggering a US naval blockade of Iranian ports and raising fears of supply shocks
The US military said no ships passed through the blockade zone in the first 24 hours, underlining the scale of enforcement. The operation aims to cut off Iran from key economic lifelines, particularly oil exports and shipping revenues.
However, António Guterres said it was “highly probable” that negotiations would restart. Officials from the Gulf region, Pakistan and Iran have also indicated that delegations from Washington and Tehran could reconvene in Islamabad later this week.
Tensions remain high around the Strait of Hormuz, a critical global route for oil and gas shipments.
Iran has effectively restricted access to the strait since coming under US and Israeli air strikes on February 28. In response, the US has deployed more than a dozen warships and around 10,000 personnel to enforce the blockade.
According to US Central Command, several merchant vessels have already been turned back. However, tracking data suggests some ships have still managed to pass through the strait despite restrictions.
China has strongly criticised the blockade, calling it “dangerous and irresponsible” and warning it could escalate tensions further and undermine the ceasefire.