Brent fell 0.5% to $95/barrel and WTI dropped 0.9% to $86.68 amid mixed US‑Iran talks before ceasefire expiry.
US President Donald Trump affirmed the naval blockade will stay until a peace deal, while Iran’s speaker rejected negotiations under threat.
Iran’s closure of Hormuz cuts ~20% of crude, leading Saudi and UAE to use Yanbu and Fujairah, raising loading to 6.5 m bpd.