Oil prices swing after Strait of Hormuz reports

Market participants reacted to reports that cast uncertainty over an arrangement between the U.S. and Iran, with traders citing the lack of clear confirmation from either side.

Analysts pointed to thin trading volumes and the rapid succession of headlines as factors amplifying price swings throughout the day.

Ongoing regional strife has kept diplomatic channels active, though no new formal statements confirming a reopening timeline have been issued by either government.

“A flurry of headlines on Friday point to an increasingly fragile deal between the U.S. and Iran." The statement reflects the tone of coverage that emerged as traders sought clarity on whether any prior understanding would hold.”