Oil prices are little changed in early trading as the market monitors peace talks between the U.S. and Iran and the return of shipping through the Strait of Hormuz. Brent crude is up 0.2% to $73.10 a barrel, while WTI futures rise 0.1% to $69.58 a barrel after posting their sharpest quarterly decline since early 2020 on Tuesday. President Trump has weighed returning to all-out war with Iran but decided to stick with diplomatic talks for now, the Wall Street Journal reported. He also told aides that he is fine if negotiations with Tehran blow past an Aug. 18 deadline. "Improving prospects for a lasting U.S.-Iran agreement continued to ease supply concerns," analysts at MUFG say. Still, "uncertainty remains over key issues, including Iran's nuclear program and future governance of the Strait of Hormuz, which could complicate negotiations during the ongoing ceasefire period." (giulia.petroni@wsj.com)