Oil prices ticked lower Tuesday, driven by renewed diplomatic efforts to end the U.S.-Iran war and hopes of a de-escalation in the wider regional conflict that has seen Tehran-backed Houthis target Saudi Arabia.

Futures for international benchmark Brent crude for December delivery were down 90 cents to $114.91 a barrel as of 8:14 a.m. ET. U.S. West Texas Intermediate futures for June were 72 cents lower to $101.04 per barrel.

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Brent

It follows talks between Saudi Arabia, Turkey, Pakistan and Iranian officials in Tehran on Monday, as they stepped up efforts to defuse tensions across the Middle East.

Riyadh said the discussions were aimed at keeping diplomatic channels open and preventing another escalation in hostilities. The four countries agreed to continue to engage to advance regional peace and security, according to Iranian state media.

The diplomatic push comes as U.S.…