Oil prices are rising again as investors monitor the stalled negotiations between the U.S. and Iran over ending the conflict. Disagreements span several key issues, including control of the Strait of Hormuz and Iran’s nuclear program — both major sticking points in any potential peace deal.
Markets React to Geopolitical Uncertainty
Fears of escalating hostilities intensified after reports emerged of new U.S. strikes targeting Iranian positions. Such developments have revived concerns about prolonged disruption to shipping through the Strait of Hormuz — a critical global oil transit chokepoint — triggering fresh volatility in crude markets.
Brent crude futures are now trading above $97–$98 per barrel, recovering part of the ground lost in recent sessions. Prices have climbed nearly 4% amid the renewed geopolitical strain. Similarly, West Texas Intermediate (WTI) futures are trading above $92 per barrel.
Uncertainty Undermines Price Stability
Analysts stress that oil prices — often dubbed “black gold” — cannot stabilize while uncertainty persists on the war front. Tehran insists on retaining control over the Strait of Hormuz and preserving its nuclear program, conditions Washington has repeatedly rejected.
Former U.S. President Donald Trump reiterated that Washington will not accept what he called a “bad deal.” He also dismissed calls from Iran to lift sanctions — even as Tehran urges an end to military operations and seeks economic concessions.
Contradictory Trends in Weekly Performance
Despite the sharp intraday gains, oil prices are still down for a second consecutive week. That decline reflects earlier optimism around a possible peace agreement and hopes for the reopening of the Strait of Hormuz — expectations now dampened by the latest escalation.