Brent crude futures fell for a second straight session to around $109 per barrel on Wednesday, as traders grew cautiously optimistic that the US and Iran could eventually reach an agreement, despite conflicting signals from both sides. US President Trump said the conflict with Iran could end “very quickly,” while also warning that Washington could resume strikes in the coming days if negotiations fail. Trump added that he had recently called off a planned US attack scheduled for Tuesday as part of efforts to advance a potential deal. Iran threatened to extend the conflict ‘beyond the region’ if the US and Israel resume attacks. Meanwhile, disruptions in the Strait of Hormuz continue to support oil prices and although some vessels have resumed transit, the key shipping route remains largely restricted. Reports indicated that three supertankers carrying crude departed the Strait on Wednesday. Oil prices remain roughly 50% above levels seen before the conflict began.