U.S. oil prices experienced an uptick in early trading on Thursday, partially rebounding from the losses incurred the previous day. This movement comes as investors evaluate the potential for de-escalation in the Middle East, alongside Iran’s consideration of a U.S. proposal aimed at resolving the ongoing conflict that has significantly impacted energy flows from the Gulf.

U.S. West Texas Intermediate crude futures experienced an increase of over $1, reaching $91.42 a barrel at the open. As of 2225, they were up 93 cents, or 1%, at $91.25 a barrel. WTI experienced a decline of 2.2% on Wednesday. Iran continues to evaluate a U.S. proposal aimed at concluding the conflict in the Gulf, despite an initial negative response, as indicated by a senior Iranian official. This suggests that Tehran has not yet fully dismissed the proposal. U.S. President Donald Trump is poised to intensify measures against Iran should Tehran not acknowledge its “military defeat,” as stated by White House press secretary Karoline Leavitt.

Iranian officials expressed disdain for the possibility of engaging in negotiations with the Trump administration. However, a noticeable postponement in providing a formal reply to Pakistan, which presented a 15-point proposal on behalf of Washington, seems to indicate that certain individuals in Tehran might be contemplating it.