Brent crude rose above $89 per barrel on Tuesday, extending gains for a fifth consecutive session as uncertainty over negotiations between the United States and Iran kept concerns over oil flows through the Strait of Hormuz in focus.
The latest increase came as U.S. President Donald Trump introduced additional demands in negotiations with Tehran, including compensation related to deaths attributed to Iran in regional conflicts. Iran has separately reiterated demands for reparations as part of negotiations aimed at ending the conflict.
The competing demands have complicated efforts to reach a near-term agreement that could end hostilities and restore normal shipping through the Strait of Hormuz, a critical route for global oil and liquefied natural gas exports.
Trump also indicated that Washington could allow economic pressure on Iran to intensify rather than immediately resume military strikes as a means of securing the reopening of the waterway.
Separately, Iran and Oman have yet to reach an agreement over restoring traffic through Hormuz. Tehran has linked a reopening of the strait to a broader agreement with the United States.
The continued uncertainty surrounding the negotiations has kept the risk of prolonged supply disruptions elevated, contributing to Brent’s five-session advance.
The Strait of Hormuz connects the Persian Gulf with the Arabian Sea and serves as one of the world’s most important energy transit corridors. Restrictions or disruptions to shipping through the waterway can affect crude and refined-product supplies across international markets.
