Oil prices showed a mixed performance as U.S. military operations in southern Iran and President Donald Trump's comments on negotiations with Tehran heightened market jitters.
Trump described the talks as "proceeding nicely" but warned that the U.S. could resume military action if discussions fail.
The energy market's reaction reflects the broader uncertainty surrounding the geopolitical situation.
While some traders are betting on a de-escalation, others are hedging against the risk of renewed hostilities, which could disrupt critical shipping routes in the Gulf of Oman.
The Strait of Hormuz remains a focal point for global energy security, with recent U.S. military actions targeting Iran-flagged oil tankers.
These moves are seen as a direct challenge to the fragile ceasefire in the region and could have lasting implications for oil flows.