Oil steady around $104/bbl as Trump eyes Iran war exit without Hormuz reopening

Oil prices remained stable around $104 per barrel as former President Donald Trump indicated a potential exit from military engagement in Iran, contingent on the reopening of the Strait of Hormuz. This development could influence market sentiment by reducing geopolitical risk, thereby affecting the risk appetite of investors. Crude oil markets are particularly exposed due to their sensitivity to supply disruptions and geopolitical tensions in the Middle East. Traders will be closely watching any official statements or actions regarding U.S. military presence in the region, as well as developments related to the Strait of Hormuz, which is a critical chokepoint for global oil shipments.

Crude oil (WTI/Brent) reacts in real time to OPEC+ production decisions, EIA weekly inventory reports, geopolitical supply disruptions (Middle East, Russia, Venezuela) and US Strategic Petroleum Reserve announcements. A 5% intraday move on breaking news is not unusual.

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