FX.co ★ Oil Steadies as US-Iran Talks Continue

Crude oil held above $74 per barrel on Tuesday, stabilizing after coming under pressure in the previous session, as investors weighed early signs of progress in peace talks between the US and Iran underway in Switzerland. In a key development, Washington granted Tehran a 60-day license to sell oil on international markets, fueling expectations of a faster rebound in global supply. At the same time, traffic through the Strait of Hormuz has increased, with producers such as Kuwait and the United Arab Emirates securing alternative export routes, while Iran shipped more than 30 million barrels over the past week. However, Iran’s nuclear program remains a central flashpoint: US Vice President JD Vance said Tehran had agreed to admit nuclear inspectors, a claim that Iranian officials have publicly denied.