Oil Prices Hold Steady As Iran Peace Talks Resume

(MENAFN- Yolo Wire) Oil prices are little changed as talks aimed at ending the Iran war resume in Pakistan.

Brent crude oil, the international standard, is trading at $95 U.S. a barrel on April 21, largely unchanged from the previous day.

West Texas Intermediate (WTI) crude oil, the U.S. benchmark, is trading at $89.10 U.S. a barrel, also unchanged over the past 24 hours.

Energy traders appear to be in wait-and-see mode after U.S. President Donald Trump said that he expects a deal with Iran but is ready to resume military strikes if negotiations fail.

In a media interview on the CNBC business network, Trump dismissed rising oil prices, calling them "peanuts" and said that he is surprised that prices are not much higher.

"If you would have told me that oil is at 90 as opposed to 200 I would be frankly surprised," he said.

Trump's comments come as a U.S. delegation enters a second round of peace talks with Iranian officials in Pakistan. A two-week ceasefire between the U.S. and Iran expires on April 22.

At the same time, the Strait of Hormuz, where 20% of the world's crude oil typically flows, remains largely shut amid a U.S. blockade and Iran's threats of retaliation.

Crude oil prices have been as high as $110 U.S. in recent weeks but have come down since the two-week ceasefire was announced.

Prices for gasoline at the pumps remain above $4 U.S. per gallon in many parts of America.

MENAFN21042026007606016353ID1111013019