US crude futures fall over $1 as traders weigh supply risks

(Corrects to say prices down $1.32 rather than up in paragraph 2)

BENGALURU, April 14 : U.S. crude futures fell more than $1 in early Asian trade on Tuesday as traders balanced heightened supply risks linked to a U.S. blockade nL6N40V09S of Iranian shipping in the Strait of Hormuz with reports nL4N40W0L7 that Washington and Tehran were still open to talks after a tense meeting in Islamabad.

U.S. West Texas Intermediate was at $97.76 a barrel, down $1.32, or 1.3 per cent by 2205 GMT, following a 1.5 per cent gain in the previous session.