Oil prices held steady on Friday as President Donald Trump signaled skepticism toward a proposed cease‑fire with Iran. After dismissing Tehran’s latest peace overture, the U.S. leader’s remarks kept the market wary of any de‑escalation that could reopen the strategically vital Strait of Hormuz. Traders interpreted the comment as a cue that geopolitical tension would linger. Investors responded by holding bullish positions.

The Hormuz chokepoint funnels roughly one‑quarter of global oil shipments, so any threat to its openness instantly ripples through futures contracts. By rejecting Iran’s offer, Trump removed a potential catalyst for supply‑chain relief, leaving OPEC‑plus producers with little incentive to adjust output. Consequently, price differentials between Brent and West Texas Intermediate remained narrow. The uncertainty also pressured refining margins as feedstock costs stayed elevated.

Energy investors therefore maintained exposure to oil‑related assets, betting that the standoff would sustain current price levels. Shipping firms and insurers monitoring the Gulf also kept contingency plans active, given the historical precedent of brief closures spiking freight rates. In the short term, market participants will watch for any diplomatic shift that could finally ease the Hormuz bottleneck. Overall, volatility is likely to persist.