Oil Swings as US-Iran Talks Stall; Crude Down 8% Weekly — SkimNews
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- Oil futures headed up as US-Iran peace talks reached a stalemate, with stock futures slipping after an Iran offer was reportedly rejected, per Bloomberg's markets wrap
- US crude oil fell nearly 8% for the week following direct talks between Tehran and Washington, while Barchart noted crude prices fell sharply on hopes of a deal to reopen the Strait of Hormuz
Why it matters: The intraday-versus-weekly split shows how every twist in US-Iran diplomacy now moves crude in real time. The Strait of Hormuz — the chokepoint at the center of these talks — is what gives a single rejected offer or stalled negotiation enough leverage to drive an 8% weekly swing in US crude.
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