Brent oil price near $100 again with U.S.-Iran talks uncertain and Hormuz still blocked

Oil prices moved closer to $100 a barrel as tanker traffic through the Hormuz Strait remained restricted, highlighting ongoing supply risks in a critical shipping chokepoint. President Trump said the U.S. and Iran will "probably" meet over the weekend for another round of negotiations, keeping geopolitical uncertainty elevated. The combination of restricted flows and fragile diplomacy is likely to support crude prices and broader energy-market volatility.

Analysis

Oil prices moved closer to $100 a barrel as tanker traffic through the Hormuz Strait remained restricted, highlighting ongoing supply risks in a critical shipping chokepoint. President Trump said the U.S. and Iran will "probably" meet over the weekend for another round of negotiations, keeping geopolitical uncertainty elevated. The combination of restricted flows and fragile diplomacy is likely to support crude prices and broader energy-market volatility.