Oil prices fluctuate as traders anticipate Strait of Hormuz reopening after US‑Iran talks in Switzerland

Oil markets are showing volatility amid geopolitical tension in the Middle East. Traders are closely watching the Strait of Hormuz, a key shipping lane for crude. Prices have wavered as the region remains uncertain. The United States and Iran are scheduled to meet in Switzerland on Friday. Officials are expected to sign an initial agreement at the talks. The deal could launch a 60‑day cease‑fire between the two sides. A cease‑fire would likely allow the Strait of Hormuz to reopen for oil shipments. Reopening the strait could stabilize global oil prices if the agreement holds.