Oil Slips as Markets Seek Clarity on US–Iran Deal and Hormuz Outlook
Oil prices pulled back from recent highs on Wednesday, trimming part of the roughly 4% advance from the prior session as traders looked for clearer signals on US–Iran negotiations after renewed hostilities complicated efforts to reopen the Strait of Hormuz.
Brent was trading around $94.1 a barrel and WTI around $91.3 a barrel. The move reflected a partial unwinding of geopolitical risk premium after Tuesday’s rally, which was driven by fresh US strikes in Iran that undercut weekend optimism about a fast-track agreement.
Iran accused the United States of violating the ceasefire through strikes near the Strait of Hormuz, while Washington described its actions as defensive. Regional risks also increased after Israel intensified bombing in Lebanon, adding another layer of uncertainty for energy markets.
Still, expectations of an eventual reopening have not fully faded. After an April ceasefire in a conflict that has run for roughly three months, both sides had signaled progress toward restoring shipping flows, and reports of several LNG tankers transiting the strait in recent days have supported the view that supply normalization could begin gradually.
For markets, the near-term focus remains on execution rather than headlines. Until Hormuz operations return to a genuinely normal footing, oil prices are likely to stay highly sensitive to shifts in perceived supply risk and energy-driven inflation narratives, especially as diplomacy and military dynamics evolve in parallel.
Source: Newsmaker.id
