Oil prices surged on Thursday after reports of Iran's peace talks and inventory draws, though the market remained sensitive to geopolitical shifts. Analysts noted that while Brent crude rose by 78 cents to $105.80 a barrel, U.S. WTI futures gained 84 cents to $99.10, driven by concerns over Trump's final negotiations. However, amid these gains, Iran warned of further attacks and announced new measures to control the Hormuz Strait, which has been a critical chokepoint for global trade. The U.S. withdrew nearly 10 million barrels from its Strategic Petroleum Reserve, highlighting the strain on energy supplies in the region. EIA data showed a sharp decline in U.S. inventories, underscoring the complexity of balancing security and economic interests. This situation raises questions about the long-term impact of regional conflicts and the role of strategic reserves in maintaining global energy stability.
