Oil prices fell in early Asian trading after conflicting reports about Iran’s position on reopening the Strait of Hormuz, a major oil-shipping route. Kyodo News Agency reported that Iran had proposed reopening the strait if the U.S. lifted its blockade, but Iran’s Fars News Agency later cited sources denying the report. ANZ Research analysts said markets would closely monitor U.S.-Iran diplomatic talks for indications of a possible reopening. Separately, Saudi Arabian crude exports from Yanbu are expected to resume soon after state-controlled Aramco tested its East-West pipeline, which was closed following an attack earlier in September. Front-month Brent futures fell 0.75% to $98.51 a barrel, while front-month WTI futures declined 1.0% to $89.59.