Oil rises in early trade amid lack of progress in U.S.-Iran talks to reopen the Strait of Hormuz, a key waterway through which one‑fifth of the world’s oil is transported. President Trump said that he’s in no hurry to resolve the U.S.-Iran conflict and threatened to bomb Oman if the country “gets in the way” of U.S. efforts to reach a peace deal with Iran pọ. Iranian negotiators have held discussions with Oman in recent weeks over a provisional arrangement to manage shipping through the strait, but no tangible outcome has yet emerged.

Front‑month WTI crude oil futures are 0.5% higher at $84.92 per barrel. ([email protected]).