Oil prices retreated slightly, though still securing their largest monthly increase since 2022. West Texas Intermediate dipped 0.3% to settle around $65 a barrel, ending a three-day rally. Brent closed above $70. The shift follows Donald Trump's comments suggesting Iran's interest in a deal, which cooled investor enthusiasm after recent tensions.

This softening of prices is directly tied to the potential for eased tensions in the Middle East. Trump's recent statements represent a change in tone, moving away from punishing Iran to potentially negotiating a new nuclear agreement. Investors are closely watching these developments, understanding that any agreement could impact supply and demand dynamics.

Dr. Ellen Wald, President of Transversal Consulting, discussed the situation on Bloomberg Businessweek Daily. She also offered insights on Chevron and Exxon earnings. The market is sensitive to any signals regarding the easing of sanctions or potential new agreements.

Looking ahead, traders will be focused on any concrete steps towards negotiations. The market will be watching the next moves by both the U.S. and Iran, as well as the reaction from other major oil-producing nations. Any progress could further impact oil prices.