PREVIEW

Oil Prices Dip As Trump Extends Iran Ceasefire Talks. Oil prices have edged lower after Donald Trump announced an extension of the ceasefire with Iran to allow more time for negotiations. Brent crude slipped below $98 a barrel, while US oil prices also declined after initial gains earlier in the day. Trump said the ceasefire would continue while talks progress, but confirmed the US will maintain its blockade of Iranian ports until a formal proposal is agreed. Energy markets have been highly volatile since the conflict began, with tensions centred on the Strait of Hormuz, a crucial route for global oil supplies. Planned talks in Pakistan now appear uncertain, with both sides yet to confirm participation. Despite ongoing risks, the ceasefire extension has offered some relief to markets, easing immediate concerns over supply disruptions.
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