Oil prices dip as markets await possible U.S.-Iran talks

Oil prices fell as markets priced in the possibility that U.S.-Iran peace talks could help reopen the Strait of Hormuz, easing a key supply-risk premium. President Trump said he does not want to extend the ceasefire, which is set to expire within hours, keeping geopolitical uncertainty elevated. The move is likely to pressure crude and broader energy markets as traders weigh reduced disruption risk against still-volatile regional tensions.

Analysis

Oil prices fell as markets priced in the possibility that U.S.-Iran peace talks could help reopen the Strait of Hormuz, easing a key supply-risk premium. President Trump said he does not want to extend the ceasefire, which is set to expire within hours, keeping geopolitical uncertainty elevated. The move is likely to pressure crude and broader energy markets as traders weigh reduced disruption risk against still-volatile regional tensions.