According to CoinMeta, oil prices declined during the Asian trading session, while the market is still weighing the diplomatic prospects. Oil prices gave back some of the gains recorded after U.S. President Donald Trump made remarks stating that the United States no longer needed to reach an agreement with Iran and hoping that Vice President Mike Pence, who led the negotiations, would shift focus to other areas. The Chief Operating Officer stated that the market seems to be increasingly reflecting diplomatic possibilities in prices, although the negotiations will not immediately repair infrastructure, normalize shipping, or guarantee uninterrupted production. It was also mentioned that the decline in oil prices is not because geopolitical risks have disappeared; rather, traders are questioning to what extent current prices should reflect potential disruptions that could ultimately reverse the situation.