Oil prices have fallen again!

Oil prices fell again on Thursday after rising 4% in the previous session. The market is closely watching diplomatic talks between Iran and the United States aimed at ending the war, as well as the future of energy supplies. Brent crude futures fell 0.9% to $102.13 per barrel, while U.S. West Texas Intermediate (WTI) declined 0.7% to $91.56.

Iranian officials said Tehran remains open to diplomacy to end the war with the United States. However, the two countries have yet to reach an agreement on how to end the conflict. Tehran considers lifting the U.S. naval blockade and reopening the Strait of Hormuz among its key conditions. Meanwhile, reports about possible restrictions on U.S. diesel exports also affected the oil market. The White House denied reports of a 90-day diesel export ban. U.S. crude oil inventories rose by 3 million barrels last week to 426.4 million barrels.