Crude Oil is trading 1.2% up at $77.49 as traders react to renewed geopolitical uncertainty surrounding the U.S.–Iran relationship and potential disruptions to flows through the Strait of Hormuz.
- Fresh reports highlight cancelled U.S.–Iran talks and stalled peace efforts, which may tighten perceived supply risks.
- The rebound follows a sharp slide last week and a broader ~21% monthly drop, with prices now projected to range near the high-$70s.