Crude oil prices held above $82 per barrel on Tuesday, extending a three-session rally. The market remained supported by growing uncertainty over a potential US–Iran agreement to end the conflict and reopen the Strait of Hormuz.
President Donald Trump issued a sweeping new set of demands on Iran, including compensation for people killed by the Islamic Republic in various conflicts, after Tehran renewed its own calls for reparations as part of talks to wind down the war. These hardened positions have dimmed hopes for a near-term deal, keeping traders alert to the risk of prolonged supply disruptions.
Trump also signaled he was prepared to let economic pressure on Iran escalate, rather than resorting to new military strikes to force the reopening of Hormuz. At the same time, Iran and Oman have yet to reach an agreement on restoring traffic through the waterway, as Tehran is making any reopening conditional on securing an accord with Washington.
