Trump’s Iran peace claim tests oil markets as supply risk lingers

Trump’s claim of a peace deal with Iran has bought three weeks of fragile calm in oil markets, but Hormuz risk and tight inventories keep prices volatile: Brent hovers near $78 per barrel after an initial dip following the MOU, roughly 200 million barrels have bypassed Hormuz in three weeks, the Strategic Petroleum Reserve sits around 319.5 million barrels, and renewed sanctions or a closure of the strait could quickly spike prices and strain the US economy.