Oil prices were mixed on Monday after renewed military strikes between the U.S. and Iran over the weekend reignited concerns over crude supplies from the Middle East.

U.S. West Texas Intermediate futures rose 0.4% to $69.52 per barrel, paring some gains after briefly rising above $70. WTI settled below $70 on Friday for the first time since Feb. 27 — the day before the start of the Iran war.

International benchmark Brent crude futures, meanwhile, dipped 0.1% to $71.90. 

The moves follow clashes between the U.S. and Iran that threatened to derail negotiations aimed at ending the conflict. U.S. officials said both sides would pause hostilities and allow commercial vessels to freely transit the strategically vital Strait of Hormuz.

“Technical talks are slated to continue on all areas of the MOU,” a U.S. official told CNBC on Sunday.

“Both sides will stand down for now and vessels can move freely,” the official said.

The U.S. military attacked a number of Iranian targets after a commercial tanker in the Strait of Hormuz was reportedly struck by a projectile on Saturday. Iran’s neighbors, Kuwait and Bahrain, also reported incoming missiles and drones overnight.