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WTI crude oil climbed more than 4%, moving above $95 per barrel as markets reacted to escalating geopolitical tensions, particularly after reports that a potential US–Iran agreement could take months rather than weeks. Negotiations have yet to resolve core points of contention, while disruptions in the Strait of Hormuz continue to constrain oil flows. The standoff between Washington and Tehran is keeping supplies tight, reinforced by recent draws in US crude inventories and robust export activity. Even so, some lingering optimism over the prospect of a deal has tempered further price gains, underscoring the market’s sensitivity to geopolitical news and the persistent uncertainty surrounding supply conditions.
