Oil prices are rising as shipping risks in the Strait of Hormuz persist, raising concerns about supply disruptions. While renewed escalation could push crude prices higher, confirmation of direct U.S.-Iran talks at this week’s U.N. General Assembly could weigh on prices by raising expectations for increased supply. The ongoing geopolitical tension in the region continues to influence market sentiment, with traders closely monitoring developments for any signs of conflict or diplomatic progress.

Market analysts note that any interruption to oil flows through the critical waterway could tighten global supplies and support prices. Conversely, progress in U.S.-Iran dialogue may ease fears of supply constraints and encourage a more bearish outlook. The dual pressures of risk and diplomacy are creating volatility in energy markets as investors balance threat perception against potential de-escalation.