America News Agency

Amid these developments, April Brent crude futures fell 0.3% to $68.45 per barrel, while West Texas Intermediate (WTI) crude futures rose 1.1% to $63.45 per barrel.

Due to market holidays in China, Hong Kong, Taiwan, South Korea and Singapore, trading volumes across global markets declined significantly.

U.S. and Iranian ministers are set to meet in Geneva, Switzerland, on Tuesday to discuss the Middle Eastern country’s nuclear enrichment activities.

U.S. President Donald Trump told reporters on Monday that he would “participate indirectly” in the talks, though it is unclear what that means.

The Geneva meeting comes just weeks after it emerged that talks between Tehran and Washington earlier this month had largely ended without results.

Following reports that the United States had sent a second aircraft carrier to the Middle East ahead of the talks with Iran and that Washington was planning an expanded military operation in the region if negotiations fail, markets priced in a higher risk premium for crude oil due to the possibility of worsening geopolitical conditions in the Middle East.