Crude oil prices rose again on Tuesday with Brent Crude touching the $100 a barrel mark intra-day. The global benchmark had slumped by more than 10% on Monday on Trump's rattling announcement of pausing energy strikes for five days in Iran.
However, conflicting claims regarding the Middle East war have emerged since then, sending shockwaves through the oil markets. As of 7 p.m. IST, Brent crude traded 4.03% higher to $99.86 a barrel and West Texas Intermediate traded 4.81% higher at $92.37 per barrel.
The uptick was primarily a result of the oil market fearing continued disruption due to escalation in the US-Iran war. Earlier on Tuesday, Iranian media reports said civilian energy infrastructure were targeted in Isfahan and Kharamshahr.
This was in stark contradiction to Trump's claim, on Monday, that a five-day pause has been imposed on energy strikes due to "very good" talks between Washington and Tehran.
"I am please to report that the United States of America, and the country of Iran, have had, over the last two days, very good and productive conversations regarding a complete and total resolution of our hostilities in the Middle East," Trump said in a social media post.
He added that based on the tenor and tone of these in-depth, detailed, and constructive conversations, which will continue throughout the week, "I have instructed the department of war to postpone any and all military strikes against Iranian power plants and energy infrastructure for a five-day period."
ALSO READ: 'Trump Backed Down': Iran Media Denies Direct Talks After US Holds Off Energy Strikes
Trump's claims were crucial as they came after Trump's 48-hour ultimatum to Iran, wherein he threatened to 'obliterate' Tehran's power plants if the Strait of Hormuz was not opened
Shortly after Trump's announcement that he has had productive discussions, Iranian media and foreign ministry officials refuted having communicated with America directly. Tehran termed the US President's statement as a "manipulative move" to bring down oil prices.
The Iranian Foreign Ministry was reported as saying that Trump's claims are just a way for him to "buy time" as regional de-escalation efforts continue.
Amid the clamour about a five-day deferment, explosions were heard in central and southwestern Iran, where energy-related facilities were reportedly struck.
According to reports carried by Fars News Agency, a semiofficial outlet considered close to Iran's paramilitary Revolutionary Guard, two energy sites were hit in separate incidents. The strikes were reported in the central province of Isfahan and the southwestern city of Khorramshahr.
Fars said a gas administration building and a gas reduction structure in Isfahan were struck, causing damage to parts of the facilities as well as to nearby residential homes.
In a separate incident, the agency reported that a projectile landed outside a gas pipeline linked to a power plant in Khorramshahr, a city near Iran's border with Iraq and Kuwait.
ALSO READ: Did US Strike Energy Facilities In Iran After Trump Extended Deadline? Here's What We Know
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