Oil Prices Dip as Tehran Signals Willingness to Negotiate on Nuclear Program

Shares wavered and oil prices fell on Tuesday after Tehran offered a positive signal during talks with US officials in Geneva over Iran's nuclear program, following days of heightened rhetoric from President Donald Trump.

Earlier in the session, oil prices had climbed amid Trump’s escalated threats toward Iran, a major crude producer. However, Iranian Foreign Minister Abbas Araghchi described the talks as opening "a new window of opportunity."

"We are hopeful that negotiation will lead to a sustainable and negotiated solution," Araghchi said, adding that "Iran remains fully prepared to defend itself against any threat or act of aggression."

West Texas Intermediate crude fell 1.0 percent to $62.25 per barrel, after earlier rising 1.5 percent, while Brent North Sea Crude declined 2.0 percent to $67.22.

Analyst Aarin Chiekrie of Hargreaves Lansdown noted, "There’s speculation that Iran could agree to dilute its most highly enriched uranium in exchange for the full lifting of financial sanctions, but it’s not clear if that will be enough to seal a deal between the two parties."

Meanwhile, Wall Street was mixed two hours into trading, with the tech-heavy Nasdaq down 0.1 percent, while the Dow Jones Industrial Average and the S&P 500 hovered around the flatline.

"Investors are cautiously watching sectors like insurance brokers, wealth advisors, real estate services, and logistics, which were heavily impacted last week, to see which part of the market might be next on the AI hit list," Chiekrie added.