Crude Oil Soars Amid Continued Hormuz Strait Closure, Delayed U.S.-Iran Peace Talks

Crude oil surged as traffic through the Strait of Hormuz remains closed, keeping supply disruption risks elevated. The market is focused on Iran's next move and whether the U.S.-backed ceasefire extension holds amid calls for peace talks. The situation raises near-term volatility for oil prices and broader energy markets.

Analysis

Crude oil surged as traffic through the Strait of Hormuz remains closed, keeping supply disruption risks elevated. The market is focused on Iran's next move and whether the U.S.-backed ceasefire extension holds amid calls for peace talks. The situation raises near-term volatility for oil prices and broader energy markets.