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Oil Volatile as Trump Signals Progress in Iran Negotiations

Crude prices swung sharply this week as diplomatic signals from Washington regarding Iran created competing market pressures. President Trump said negotiations with Tehran have reached final stages, sparking expectations that a resolution could soon restore energy flows through the Strait of Hormuz, a critical chokepoint for global oil supplies. The prospect of renewed Iranian exports initially sent prices lower as markets grew optimistic that supply constraints could ease. However, subsequent statements suggesting negotiations remain fragile pushed prices higher again. Gold also rose on the same diplomatic developments, as markets reassessed interest rate expectations amid potential geopolitical de-escalation. Energy traders remain focused on whether the talks will yield concrete results that could meaningfully alter global crude balances.