Oil Prices Steady Amid Fading Optimism Over US-Iran Accord

Oil prices held steady on Tuesday, hovering near their strongest levels in over a week, as prospects for a U.S.-Iran agreement to halt hostilities and reopen the Strait of Hormuz dimmed.

This followed President Donald Trump's call for compensation covering damages sustained by the United States, which is likely to hinder efforts to restore navigation through the vital oil route.

Tim Waterer, chief market analyst at KCM Trade, observed a significant divergence between Washington and Tehran regarding the shape of any potential accord.

The optimism that emerged last week is fading, lending a firm undertone to oil prices.