FX.co ★ Oil Rises on US-Iran Deal Uncertainties

WTI crude futures edged back toward $90 per barrel on Thursday, recouping part of the prior session’s losses as negotiations between the United States and Iran remained stalled over several critical issues related to ending the conflict. Key sticking points include Tehran’s insistence on retaining control over the Strait of Hormuz and preserving its nuclear program.

President Donald Trump reiterated that Washington would not accept what he called a “bad deal” and refused to consider sanctions relief, despite Iran’s demands for an end to attacks and for economic concessions. At the same time, Iranian state television claimed there was an unofficial draft agreement designed to halt the war, a report the White House dismissed as “a complete fabrication.”

Despite the latest rebound, oil prices remain on course for a second consecutive weekly decline, amid expectations that the two sides could eventually reach a peace agreement and reopen the Strait of Hormuz.