WTI crude falls 0.36% to $71.84 after Trump declares ceasefire over but confirms continued negotiations with Iran.
Oil markets showed muted reaction after former President Donald Trump announced the end of a ceasefire with Iran while confirming ongoing talks. WTI crude settled 26 cents lower at $71.84, reversing an initial risk-off move as traders focused on the continuation of negotiations rather than the ceasefire termination.
Prior to the statement, oil prices had stabilized near $72 amid easing geopolitical tensions in the Middle East. Analysts noted the absence of immediate escalatory actions, such as a US blockade of the Strait of Hormuz, which had been a key concern for supply disruptions. However, lingering uncertainty may sustain long-term tightness in oil markets.
The latest episode underscores persistent volatility in the region, with shipping companies likely to remain cautious about transit through critical chokepoints. Market participants continue to monitor developments for signs of sustained de-escalation or further conflict.