Oil prices held steady as traders digested President Donald Trump's latest threat to restart military strikes on Iran. Brent crude and WTI futures showed little movement despite the saber-rattling, with markets largely unimpressed by the rhetoric. The warning came against the backdrop of a truce that began in early April, and investors have grown accustomed to this pattern of tough talk followed by restraint.

Trump has made similar threats repeatedly over the past several months, only to pull back each time the truce held. That history of empty bluster has dulled the market's reaction to the latest round of Iran hawkishness. Energy traders appear to have priced in the likelihood that the president will once again back down rather than risk escalating tensions that could disrupt supply.

For energy markets, the durability of the Iran ceasefire matters far more than presidential rhetoric. As long as the truce survives, oil prices will likely remain range-bound regardless of how loudly Washington talks about force. The latest threat changes little for traders who have watched this cycle play out before.