Oil steadied after its largest one-month gain as renewed uncertainty over US‑Iran talks raised the risk of prolonged Gulf supply disruption. US media quoted Trump saying a memorandum on reopening the Strait of Hormuz could be reached within a week, but Washington still needs to finalise several details. Earlier reports said Iran halted talks, threatened to block the Bab al‑Mandeb and planned a full closure of the Strait of Hormuz. CIBC senior energy trader Rebecca Babin warned that if negotiatio

Oil steadied after its largest one-month gain as renewed uncertainty over US‑Iran talks raised the risk of prolonged Gulf supply disruption. US media quoted Trump saying a memorandum on reopening the Strait of Hormuz could be reached within a week, but Washington still needs to finalise several details. Earlier reports said Iran halted talks, threatened to block the Bab al‑Mandeb and planned a full closure of the Strait of Hormuz. CIBC senior energy trader Rebecca Babin warned that if negotiations stall, the market’s prior pricing “cushion” tied to a best‑case outcome would evaporate, and that repeated reversals mean nothing is certain.