US President Trump announces new Iran talks; Tehran denies, oil prices fall

US President Donald Trump said new round of Iran talks set for Monday

He made the statement after calling of attacks on Iran

Iran says there are no talks underway with Washington

Two tankers with Saudi oil exit Red Sea

Oil prices fell sharply in early Asian trading after US President Donald Trump announced new talks with Iran aimed at ending the Middle East conflict and reopening the Strait of Hormuz.

Brent crude for September delivery dropped more than 6% to $82.41 a barrel in early trade.

The conflict has disrupted energy markets and effectively closed the Strait of Hormuz, a key route for global oil and gas shipment

Iran is not currently conducting talks with the ‌US, the Iranian Foreign Ministry said on Monday, adding that it is, however, in discussions with Oman about a temporary safe route through the Strait of Hormuz.

The remarks by ministry spokesperson Esmaeil Baghaei came after US President Donald Trump said new talks with Iran on a peace deal were set to begin on Monday.

"We are not currently negotiating with the United States. Our negotiations are with Oman to secure passage through the Strait of Hormuz," Baghaei said during a weekly press briefing.

He added that a deal with Oman would not be enough to reopen the strait for commercial shipping, as the situation would stay unchanged if the US continued with its "aggression."

He later told reporters that Washington and Tehran were to carry out new talks on Monday. There was no immediate response from Iran.

Meanwhile, some Saudi oil ships passed through the Bab el-Mandeb Strait despite a stated embargo by Yemen's Iran-backed Houthi militia.

Two tankers carrying Saudi crude successfully crossed the Bab el-Mandeb Strait over the weekend, despite security concerns and a Houthi-declared maritime embargo against Saudi Arabia.

Shipping data showed traffic through the waterway fell sharply amid the heightened security risks, with just 18 commodity vessels passing on Sunday, down from 28 on Friday.

The tankers, Lesvos and Desh Vaibhav, transited with their Automatic Identification System (AIS) tracking systems switched off, the Kpler data showed. Together, they were carrying about three million barrels of Saudi oil.

Desh Vaibhav is heading to India's Sikka port, while Lesvos' destination remains unclear.

Meanwhile, vessel traffic through the Strait of Hormuz also slowed, with commodity crossings dropping after reports of multiple tanker attacks.

The UK Maritime Trade Operations agency says three more attacks have been reported since Saturday, raising fresh concerns over the security of key global energy shipping routes.

What is the conflict between Saudi Arabia and the Houthis?

The Houthis are an Iran-backed militant group that has controlled most of Yemen's more populous areas — including the capital, Sanaa — for a little over a decade.

A coalition led by Saudi Arabia intervened in Yemen in 2015 in support of the country's internationally recognized government, which is de facto based in the southern city of Aden.

While the Saudi-backed government agreed to a truce with the Houthis in 2022, this year tensions have risen again amid the US war with Iran.