Oil slipped in early Asian trade after President Donald Trump said he was pausing fresh military strikes on Iran, reviving hopes for a diplomatic breakthrough. West Texas Intermediate fell 1.4% as Tehran’s allies urged restraint, and the president hinted that “serious negotiations are now taking place.” Analysts view the dip as a tentative bounce amid supply anxieties.

Energy markets have been jittery since the Strait of Hormuz effectively shut to commercial traffic, forcing tanker flows to a trickle. Veteran strategist Louis Navellier warned volatility will persist until the waterway reopens, noting that prolonged closure could push oil higher, stoke inflation and force rates up. Both Washington and Tehran dismissed recent offer rounds as insufficient, could see temporary upgrades.

The Treasury issued a new waiver permitting sales of Russian crude already on tankers, a step aimed at steadier physical markets. Meanwhile, Microsoft posted the biggest gain among the Magnificent Seven, up 0.4%, while equity futures pointed higher in Japan and Australia. The combined effect keeps the S&P 500 hovering near flat, while bond yields linger near multi‑year highs.