FX.co ★ WTI Falls Toward 5-Week Low

WTI crude oil futures fell below $93 per barrel on Tuesday, hovering near a five-week low, as markets weighed optimism over ongoing US–Iran negotiations against a resurgence of military activity in southern Iran. According to reports, the US military struck missile launch sites and vessels suspected of preparing to lay mines, with US Central Command stating that the operations were intended to protect American forces in the region. Meanwhile, President Donald Trump said talks with Tehran were making positive progress but cautioned that additional strikes could follow if negotiations break down. Washington and Tehran are currently working on a framework to extend the ceasefire by roughly two months, under which the US would ease its blockade and Iran would reopen the Strait of Hormuz.