Oil futures fell as much as 3% on Tuesday morning amid reports that Iranian and U.S. officials were set to meet for a second round of talks in Islamabad later this week, raising hopes again for a solution to the Middle East conflict.

Oil prices closed higher Monday after volatile trade in the high $90 to $100 bbl range as U.S escalation of the Middle East conflict via a blockade of the Strait of Hormuz was offset by efforts by Pakistan to hold another round of talks between the White House and Iran.

Oil prices jumped more than 7% Monday morning on U.S. President Donald Trump's intent to blockade all ships sailing in and out of Iranian ports in the latest escalation to the Middle East crisis, which the U.S. military confirmed it will enforce.

Crude futures ended Friday's trading with the largest weekly drop in 10 months, ahead of U.S.-Iran talks that could drive energy prices lower if a peace deal is struck after more than a month of fighting that upended Middle East oil supplies.

Crude futures were steady on Friday, headed for their largest weekly decline in 10 months, as market participants awaited the outcome of U.S.-Iran peace talks after a more than a month of fighting that led to an upheaval in Middle East oil supplies and surge in energy...

Oil markets saw choppy trade Thursday on conflicting signals over peace prospects in the Middle East as Israel delivered mixed messaging on whether it would accede to Iran's demands to stop bombing Lebanon.

Crude and product futures rebounded Thursday from the selloff of the previous session as tensions flared again in the Middle East from Iran's threat to abandon a ceasefire with the U.S. and Israel if its ally Lebanon remains under attack.