Crude oil prices held steady on Thursday, with Brent and WTI trading little changed as investors digested the implications of fresh US strikes on Iran.
The market’s muted reaction reflects a standoff between two competing narratives: the immediate supply risk posed by escalating military action and the lingering hope that diplomatic channels remain open to secure a ceasefire.
The strikes, reported by multiple wire services, threaten to hinder progress in talks aimed at ending the war and allowing the full reopening of the Strait of Hormuz.
The strikes, reported by multiple wire services, threaten to hinder progress in talks aimed at ending the war and allowing the full reopening of the Strait of Hormuz.
While the physical disruption to shipping routes has not yet materialized into a supply shock, the geopolitical uncertainty continues to cap upside momentum in energy markets.
Traders appear hesitant to bid prices higher without clearer signals on whether the strikes will lead to a broader escalation or serve as a tactical move within ongoing negotiations.
This indecision follows a week of subdued volatility, as noted in recent Handelsavisen coverage, where crude markets showed little directional conviction amid mixed signals from Washington and Tehran.