WTI Crude Falls to $86 on Tuesday as Iran Signals Shift Toward U.S. Talks

According to reports, WTI crude futures fell to around $86 per barrel on Tuesday, retreating from gains in the previous trading session as Iran signaled a significant policy shift. Iran dispatched a delegation to Islamabad to conduct second-round negotiations with the U.S. before the current two-week ceasefire agreement expires, marking a reversal from Tehran's earlier stance against further peace talks.

U.S. President Trump stated he is unlikely to extend the existing ceasefire if no agreement is reached this week, adding that the Strait of Hormuz will remain blocked until a deal is reached. Tensions escalated over the weekend after the U.S. seized an Iranian vessel, prompting Tehran to attack other ships and reassert control over the strategic waterway. Core disputes between the two sides include Iran's nuclear program and ongoing regional hostilities.