Oil pared losses and WTI jumped about 2.0% early Monday to $92.07/bbl as prospects for a US‑Iran peace deal stayed uncertain. Washington and Tehran exchanged messages over the weekend seeking to amend a draft agreement to extend a ceasefire and reopen the Strait of Hormuz, but it was unclear whether substantive progress was made. Earlier optimism that a deal would restore energy flows through the strait had driven crude’s first monthly decline of the year. An economist warned neither side is lik

Oil pared losses and WTI jumped about 2.0% early Monday to $92.07/bbl as prospects for a US‑Iran peace deal stayed uncertain. Washington and Tehran exchanged messages over the weekend seeking to amend a draft agreement to extend a ceasefire and reopen the Strait of Hormuz, but it was unclear whether substantive progress was made. Earlier optimism that a deal would restore energy flows through the strait had driven crude’s first monthly decline of the year. An economist warned neither side is likely to concede on core, pre‑war issues — nuclear program, control of the Strait of Hormuz, ballistic missiles and sanctions — and said prices will remain sensitive to local developments and leaders’ remarks.