Oil prices rose 0.3% in Asian trade, Brent at $104.52/barrel and WTI at $98.33/barrel following Trump’s ceasefire comment.
Trump called Iran ceasefire “on life support” and Tehran’s response “totally unacceptable,” reviving fears of prolonged conflict.
Saudi Aramco CEO Amin Nasser warned that even if Hormuz reopens, global oil flows could take months to normalize.
Investors watch Trump’s upcoming meeting with China’s Xi Jinping, which may address Iran, trade and energy security.