Oil prices pare early losses on Monday 9 November after Iranian media report that no ships transited the Strait of Hormuz on Sunday, according to a Reuters report carried by Investing.com.
Brent January futures were at $97.58 a barrel at 00:02 GMT, down 0.75%. This followed last week's fall of more than 16%. By 04:24 GMT Brent had risen slightly to $98.35 a barrel. West Texas Intermediate was up 0.3% at $90.83 a barrel at the same time.
The early fall came after Trump told CNN it was "highly unlikely" he would need to order more attacks on Iran, provided negotiations progress.
The claim that no ships crossed Hormuz on Sunday comes from Iranian media. Investing.com cites no shipping data or maritime authority for it, and it has not been independently checked. It conflicts with Trump's claim that the strait is open.
Investing.com also says continued hostilities between Saudi Arabia and the Houthis are keeping a risk premium in oil prices.