Brent crude for June settled at $111.39 a barrel, up 2.9%, for the week, while June WTI climbed 2.4% to $98.66. The rally pushed oil back above the $111 threshold, reviving risk‑off sentiment across global markets. Traders cited heightened uncertainty after Washington voiced doubt over Tehran’s latest peace overture, which would temporarily reopen the Strait of Hormuz.

U.S. stock futures slipped modestly as investors re‑priced geopolitical risk, while Treasury yields edged higher, reflecting demand for safe‑haven assets on global risk sentiment. Precious‑metal prices fell, signalling that the commodity rally was confined to energy. The move comes amid Iran’s proposal to ease shipping constraints without addressing its nuclear programme, a trade‑off Washington deemed insufficient.

Energy‑focused funds recorded inflows for oil‑related equities as higher oil prices broadened profit margins for producers, yet the lack of diplomatic progress keeps volatility elevated. Analysts warn that any further deterioration in U.S.–Iran talks could trigger sharper spikes, pressuring airlines and import‑dependent economies. For now, the market treats the price climb as a short‑term response to stalled negotiations across major indexes in the near term.