Oil prices jumped as traders priced in a possible resolution to the Strait of Hormuz standoff. Front‑month WTI crude futures rose 2.1% to $89.20 a barrel, while Brent climbed 1.7% to $92.66. Barclays analyst Amarpreet Singh noted seven weeks of talks have left the outcome “elusive,” keeping markets jittery despite President Trump’s hint of a “very good deal.”

Australian gas producer Amplitude Energy agreed to buy the Artisan field from Beach Energy for an upfront A$58.3 million plus a royalty of A$3.75 per gigajoule. Ord Minnett called the price fair, likening it to offshore development costs without exploration risk, and said the deal underwrites the East Coast Supply Project. The firm expects the payment to be covered easily by Amplitude’s A$345 million debt capacity.

The oil rally reflects lingering geopolitical risk, while the Australian transaction signals confidence in domestic gas supply growth. Investors will watch whether the Hormuz talks produce a concrete settlement that could reverse the price gains, and whether Amplitude can translate the Artisan acquisition into measurable production increases. Both stories underline how regional tensions and asset purchases shape commodity markets today.