Oil prices reversed direction during Asian trading on Tuesday, trimming earlier gains, after a report revealed that U.S. President Donald Trump told aides he was willing to end the American-Israeli conflict with Iran without reopening the Strait of Hormuz.

Brent crude futures for May were down $1.22, or 1.08 per cent, to $111.56 per barrel at 0210 GMT after rising 2 per cent earlier in the session. The May contract expires ​on Tuesday, The Caspian Post reports, citing foreign media.

The more active June contract was at $105.76.

US West Texas Intermediate futures for May fell 98 cents, or 0.95 per cent, ​to $101.90 a barrel after hitting their highest point since 9 March in early trading.

Analysts said that the fall ⁠in prices was a temporary reaction to the idea of the war's end, but any meaningful change in prices would not materialise until ​flows through the Strait of Hormuz were completely reinstated.

Mr Trump told aides he was willing to end the military campaign against Iran even if the ​Strait of Hormuz remained largely closed and leave its reopening for a later date, the Wall Street Journal reported on Monday, citing administration officials.

On Monday, Mr Trump warned that the US would "obliterate" Iran's energy plants and oil wells if Tehran did not reopen the waterway.

Iran's closure of the Strait of Hormuz, which typically carries ​about a fifth of the global oil supply and a quarter of liquefied natural gas, pushed Brent futures up 59 per cent ​in March, the highest monthly gain ever, while WTI went up 58 per cent this month, the most since May 2020.

"While diplomatic signals remain mixed, the ground reality suggests ‌that uncertainty ⁠will persist," said Sugandha Sachdeva, founder of SS WealthStreet, a New Delhi-based research firm.

"Even in the event of de-escalation, restoring damaged infrastructure will take time, keeping supply tight."

Highlighting the threat to seaborne energy supplies, Kuwait Petroleum Corp said on Tuesday its fully loaded crude oil tanker Al Salmi, capable of carrying up to 2 million barrels, was struck by an alleged Iranian projectile at a ​Dubai port. Officials also warned of ​potential oil spills in the ⁠area.