- media@moneyinfocus.news
WTI crude futures advanced toward $98 per barrel on Friday as renewed geopolitical tensions involving Iran’s nuclear program and maritime control in the Middle East increased concerns over global energy supply stability.
The gains followed reports indicating that Ali Khamenei ordered Iran’s enriched uranium reserves to remain inside the country, complicating ongoing diplomatic negotiations with the United States, where dismantling Tehran’s nuclear capabilities remains a central condition for a broader agreement.
Investor attention also turned to the Strait of Hormuz after reports suggested Iran is working alongside Oman on a framework for a permanent toll system that would formalize oversight of maritime traffic through one of the world’s most strategically important oil shipping routes.
Donald Trump rejected the proposal, reiterating that the waterway should remain open and accessible without toll charges, reinforcing Washington’s position on maintaining unrestricted international maritime access.
Despite Friday’s rebound, crude futures remained down more than 3% for the week as markets continued assessing the possibility of a diplomatic breakthrough between the conflicting sides.
Marco Rubio said there were “some encouraging signs” surrounding a potential agreement with Iran, adding that Pakistani mediators are expected to visit Tehran while Iranian officials review Washington’s latest proposal.
Energy markets remained volatile as traders weighed short-term geopolitical risks against broader expectations that negotiations could eventually reduce tensions in the region and ease pressure on global oil supply chains.
