JERUSALEM (dpa-AFX) - The price of Brent crude oil has crossed $100 a barrel Tuesday amid conflicting reports on potential U.S.-Iran talks on ending the conflict.
President Donald Trump said on Monday that he will 'postpone any and all strikes against Iranian power plants and energy infrastructure' for five days following 'productive conversations' regarding a 'complete and total resolution' to the conflict.
The relief for the world was short-lived as the Iranian regime refuted Trump's claims, saying that he aims to buy time for US military plans and reduce energy prices.
CBS quoted an Iranian foreign ministry official as saying that it has received 'points from the US' via mediators as a potential precursor to discussions.
There are reports of preliminary round of calls between Iran's foreign minister Abbas Araghchi and U.S. envoy Steve Witkoff, according to BBC.
Trump's statement Monday on the war helped the energy markets to ease pressure in expectation of a more normal supply of oil and gas. Brent crude oil price dipped by 13 percent to about $96 per barrel, while LNG prices fell from 159p a therm to about 139p Monday.
But the trend reversed in Asian trading Tuesday morning, with oil rising 4 percent to nearly $104 per barrel.
Iran launched a series of missile strikes targeting multiple Israeli cities overnight, with impacts reported in Tel Aviv and Dimona, according to IDF.
Israeli Air Force retaliated with a 'wide wave of airstrikes' on dozens of Iranian 'regime infrastructure' overnight into Tuesday.
'We are crushing the missile program and the nuclear program. We will safeguard our vital interests in any scenario,' Israeli Prime Minister Benjamin Netanyahu said on X Monday night.
Simultaneously, U.S. forces continued to 'aggressively strike Iranian military targets with precision munitions', US Central Command said on Monday evening.
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