Oil Slides as Trump Signals Iran Peace Talks to Continue

Oil prices eased on July 10, with Brent settling at $76.16 and WTI at $71.85 after President Trump indicated peace talks with Iran would continue. The move followed a sharp mid-week rally triggered by U.S. strikes on Iranian targets, revocation of Iran's oil-sales license, and threats to Strait of Hormuz shipping that briefly pushed Brent near $79 and WTI near $75. Markets later priced in a more contained conflict that spared major energy infrastructure, though both benchmarks remain on track for roughly 6% weekly gains amid lingering geopolitical concerns and below-average U.S. inventories.