Brent and WTI climb after Washington and Tehran agree to resume talks and pause attacks in the Strait of Hormuz.
Oil prices edged higher after the U.S. and Iran agreed to halt mutual attacks and restart negotiations over the Strait of Hormuz. The de-escalation allows shipping to flow more freely through the critical chokepoint, reducing supply disruption risks.
Brent and WTI crude futures both gained, while Omani crude also rose. Markets had priced in heightened geopolitical risks following recent attacks on vessels in the region, with traders now reassessing the outlook.
The cautious rally reflects relief over reduced immediate threats, though traders remain watchful of further developments in the talks.