Oil edged lower as the U.S.–Iran conflict hesitates toward de-escalation: Trump extended a fragile ceasefire with Tehran, keeping tensions alive while delaying potential strikes. Brent fell to about $97.81 and WTI to $89.04 as markets priced uncertainty around Iran’s leadership and stalled diplomacy. The ceasefire remains in place until Tehran presents a unified proposal to end hostilities, with the U.S. continuing to block Iran's ports. The move underscores a fragile path forward, where a temporary pause coexists with deep political divisions and no clear breakthrough. Prospects for a durable settlement remain uncertain, with attention on next diplomatic steps.
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Oil benchmarks slipped: Brent crude fell 0.68% to $97.81 per barrel and U.S. WTI dropped 0.29% to $89.04 per barrel as traders weighed the conflict outlook and supply-demand signals.
Trump extended the temporary truce with Iran beyond the prior deadline, citing a seriously fractured political situation within Tehran and signaling that hostilities could resume absent a unified Iranian proposal.
Ceasefire conditions state the pause remains until Iranian leaders present a single, unified proposal to end hostilities with the U.S. and Israel, maintaining pressure and uncertainty on both sides.
The United States will keep blocking Iran’s ports in the interim, signaling no near-term breakthrough on broader diplomacy while seeking de-escalation.
The extension delays the risk of immediate military action but highlights the lack of a cohesive diplomatic path, with internal Iranian divisions complicating negotiations and a clear framework still absent.
Earlier reporting noted conflicting signals on peaceful talks: a claim that peace talks in Pakistan would resume, contrasted with Tasnim’s report that Tehran’s negotiators declined to attend through an intermediary, suggesting delegations viewed talks as unlikely to yield a viable agreement.
Tasnim quoted Iranian officials suggesting that under present conditions, attending negotiations would be pointless because the U.S. is seen as blocking any suitable agreement.