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US-Iran Deal Hopes Boost Oil Prices Amid Geopolitical Uncertainty

Guavy AI Editorial Team
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Pakistan's Defense Minister Khawaja Asif stated that the United States and Iran are close to reaching an arrangement over the Strait of Hormuz, giving optimism for resolving months-long conflict.

The comments came after reports suggested talks between Iran and Oman had reached an advanced stage. However, significant obstacles remain, including US President Donald Trump's demand for compensation from Iran for deaths linked to attacks associated with the Islamic Republic.

The uncertainty has supported oil prices, with West Texas Intermediate crude trading near $83 a barrel and Brent crude approaching $89. Gold prices have also risen, hovering close to their highest level in over two months at around $4,370 per ounce.

Bitcoin remains under pressure due to investor demand for traditional safe-haven assets amid geopolitical uncertainty, trading below $63,500.

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