Crude Oil Advances As Concerns Over Resumption Of Oil Trade Surface

Crude oil rose on Wednesday after four straight losses as traders remained skeptical about an early restoration of normal oil trade in the Gulf, despite optimism around a U.S.–Iran deal. WTI for July delivery gained 0.45 dollars to 76.50 dollars per barrel. Trump announced a deal with Iran, which Iran confirmed, proposing a 60-day ceasefire to advance negotiations on disputed points. Officials plan a signing ceremony in Switzerland on Friday, prioritizing the reopening of the Strait of Hormuz. Analysts noted the MoU text has not been public, leaving questions on assets, enrichment, and the broader reconstruction of Iran’s energy sector.