Doha: Oil prices fell on Tuesday amid signs of a potential resumption of talks between the United States and Iran, raising expectations of a possible easing of tensions. Brent crude futures slipped 62 cents, or 0.6%, to $98.74 a barrel, while US West Texas Intermediate crude fell $2.30, or 2.3%, to $96.78 by 08:28 GMT.

According to Qatar News Agency, both benchmarks had surged in the previous session, with Brent rising more than 4% and WTI about 3%, following reports that the US military had begun enforcing a blockade on Iranian ports. Oil prices have climbed roughly 50% over the past month, reaching record highs amid escalating geopolitical tensions.