Oil prices fluctuate as status of US-Iran peace talks remains unclear

Oil prices fluctuate as status of US-Iran peace talks remains unclear10 minutes agoShareSaveAdd as preferred on GoogleOsmond ChiaBusiness reporterGetty ImagesGlobal oil prices fluctuated in early Asian trading on Wednesday as the status of peace talks between the US and Iran remains unclear.On Tuesday, US President Donald Trump said he will extend a ceasefire with Iran until talks between the two countries have progressed. He added that the US will continue to blockade Iran's ports until Tehran presents a "unified proposal".After opening higher, Brent crude dipped by 0.2% to $98.32 (£72.73) a barrel, while West Texas Intermediate was down by 0.3% at $89.41.Energy markets have been volatile since the US and Israel attacked Iran on 28 February and Tehran responded with threats to target vessels in the key Strait of Hormuz waterway.The initial two-week ceasefire had been due to expire on Tuesday evening Washington time. Trump did not give a new deadline for the ceasefire extension.Vice President JD Vance, who is leading the US negotiations, had been expected to fly to Islamabad in Pakistan for talks on Tuesday. The White House has now said he will not be going.Iran has also not decided whether to send a delegation to Pakistan for talks with the US, a foreign ministry spokesperson told the BBC.Iran sees mass redundancies from war with US and IsraelWhy and how is US blockading Iranian ports in Strait of Hormuz?International BusinessOilDonald TrumpFuelIran war