The U.S. stock market is making only hesitant moves, while oil prices are unsettled as mediators try to forge a ceasefire agreement ahead of a deadline that President Donald Trump has set to bomb Iranian power plants.

U.S. oil prices were moving lower but still traded above $110 per barrel on Monday morning as negotiators reportedly intensified efforts to broker a cease-fire following President Donald Trump’s threats to civilian infrastructure.

Brent crude rose above $110 before those gains eased after a report of US-Iran talks over a potential ceasefire.

Oil prices are falling on Monday after President Donald Trump threatened to knock out Iran’s power plants if it doesn’t reopen the Strait of Hormuz by Tuesday.

The Strait of Hormuz, which ​carries oil and petroleum products from Iraq, Saudi Arabia, Qatar, Kuwait and the United Arab Emirates, remains largely closed due to Iranian attacks on shipping after the war began on February 28.

Oil prices pushed higher Sunday after President Donald Trump threatened to strike Iranian energy facilities if the Strait of Hormuz is not reopened Monday.

Brent crude rose above $110 before those gains eased after a report of US-Iran talks over a potential ceasefire.

President Donald Trump ramped up his threats against Iran over the weekend, pledging strikes against key energy infrastructure if Tehran doesn’t reopen the Strait of Hormuz.