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Energy Markets Rally on US-Iran Diplomatic Progress

Crude oil and European natural gas prices declined during Asian trading as negotiators signaled movement toward resolving tensions between Washington and Tehran. The potential breakthrough raised investor confidence that a deal could restore energy shipments through the Strait of Hormuz. Oil extended losses for a third consecutive session as traders assessed the likelihood of renewed Iranian crude exports. The improved diplomatic outlook lifted broader market sentiment, with equities climbing on reduced geopolitical risk. President Trump indicated the U.S. blockade would remain in effect pending a final agreement. Market participants weighed the timing of flow resumption against ongoing negotiations, with energy futures reflecting both optimism about supply restoration and uncertainty over deal terms.