economy
Oil prices choppy amid uncertainty over U.S.-Iran Strait of Hormuz deal
Oil was mixed as traders assess mixed signals from the U.S. and Iran amid worries that a deal to open the Strait of Hormuz may not be coming anytime soon.
TL;DR
- Oil prices were mixed as traders assessed mixed signals from the U.S. and Iran.
- Traders are concerned that a deal to open the Strait of Hormuz may not materialize soon.
- Iran claims it is not in direct talks with the U.S. and has conditions for reopening the Strait.
- The U.S. disputes key elements of any reported deal, insisting on unrestricted freedom of navigation.
- Houthi attacks in the Red Sea are interrupting alternative supply routes, adding to market uncertainty.