Oil prices are slightly declining on global exchanges, once again falling below $100.

Oil prices fell at the start of Asian trading on exchanges as hopes for further peace talks between the U.S. and Iran eased concerns about an escalation of war.

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Oil prices are slightly declining on global exchanges, once again falling below $100.

The price of the global benchmark Brent crude oil fell by 2.2% to $97.20 per barrel, while the price of oil traded in the U.S. dropped by 2.2% to around $96.90.

U.S. President Donald Trump stated on Monday that Washington "has been called by the other side," adding that Iran would "desperately" want to reach an agreement.

Oil prices surged above $100 on Monday after Trump ordered the blocking of Iranian shipments following failed negotiations over the weekend.

Asian stock markets also saw slight gains. Japan's Nikkei 225 index rose by 2.4%, while South Korea's Kospi stock market jumped by more than 3%.

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