Oil prices mixed after Trump says no Iran deal needed: 'We've got their Strait'

Oil prices have been volatile in recent weeks, driven by geopolitical tensions between the US and Iran, and President Trump's latest comments have done little to alleviate these concerns. By stating that a deal with Iran is not necessary, Trump has raised the specter of ongoing conflict, which could disrupt oil supplies and drive prices higher. This uncertainty is likely to weigh on the minds of brokers, who will be watching for any signs of escalation or de-escalation in the region.

The reference to the Strait of Hormuz, a critical waterway for oil exports, is particularly significant, as any disruption to shipping lanes could have a major impact on global oil supplies. Brokers will be closely monitoring the situation, looking for any signs of increased tensions or military activity in the region, which could drive oil prices higher. The mixed price action on Thursday suggests that the market is still trying to gauge the likelihood of a prolonged conflict, and brokers will need to stay alert to changing developments.

As the situation continues to unfold, brokers will be watching for any signs of a shift in policy from the US or Iran, as well as any reaction from other major oil-producing nations. They will also be keeping a close eye on oil price charts, looking for any technical signals that could indicate a breakout or a reversal. With the US-Iran conflict showing no signs of resolution, brokers can expect ongoing volatility in the oil market, and will need to be prepared to adapt their strategies accordingly.

Originally reported by cnbc.com. BrokerNews adds analysis for finance & markets readers.