People walk along the Corniche area in Doha, Qatar, on June 29, 2026. United States and Iranian negotiators are scheduled to hold high-level talks in Doha, according to media reports.<\/p>\n
Nurphoto | Nurphoto | Getty Images<\/p>\n
Oil prices were mixed on Tuesday as energy market participants closely monitored the potential for fresh talks<\/a> between the U.S. and Iran in Qatar.<\/p>\n International benchmark Brent crude<\/a> futures with August delivery were last seen up 0.3% at $72.93 per barrel. The contract is on track to end June roughly $19 lower, or 20% lower than the closing session on May 29. Brent crude futures with September delivery<\/a>, meanwhile, rose 0.2% at $74.09.<\/p>\n U.S. West Texas Intermediate<\/a> futures with August delivery traded 0.06% higher at $70.79, putting the contract on course for a $16 drop, or 19% fall, from last month’s closing.<\/p>\n The moves come as oil traders monitor the prospect of U.S.-Iran talks in Doha on Tuesday. <\/p>\n U.S. President Donald Trump<\/a> on Monday said<\/a> talks between the two countries would take place in Qatar’s capital on Tuesday, claiming via social media<\/a> that Tehran had “requested a meeting” following an exchange of strikes over the weekend. <\/p>\n A spokesperson for Iran’s Foreign Ministry on Monday reportedly<\/a> denied that talks were scheduled over the coming days. They added that an Iranian technical delegation’s visit to Qatar this week was not related to U.S. officials visiting the country.<\/p>\n The mixed messaging appears to underscore the fragility of an interim peace deal<\/a> struck by the U.S. and Iran earlier this month. <\/p>\n The two countries struck a 14-point memorandum of understanding on June 17 to pause fighting that had severely disrupted global oil flows through the strategically vital Strait of Hormuz. <\/p>\n Located in the gulf between Oman and Iran, the Strait of Hormuz is recognized as one of the world’s most\u00a0critical energy chokepoints<\/a>. The narrow waterway typically handles around 20% of the world’s oil traffic.<\/p>\n ‘Situation can change very quickly’<\/p>\n