Oil Prices Mixed as Trump Says No Iran Deal Is Needed

Oil prices were mixed on Thursday as traders weighed fresh comments from President Donald Trump that pointed away from a near-term end to the U.S.-Iran war.

Trump said a deal with Iran was not necessary and added that the United States had "got their Strait," a remark that appears to refer to the Strait of Hormuz, the narrow waterway through which a large share of the world's seaborne oil passes. The comment suggested Washington believes its position on the strait gives it enough leverage to avoid rushing into talks.

For energy markets, that uncertainty matters. A conflict that drags on keeps a risk premium in crude, because even a limited disruption to Gulf shipping can ripple through global supply. The reaction was uneven, with prices pulling in different directions, which reflects a market that is reacting to headlines without yet seeing a change on the water.

Analysts generally look for confirmation before repricing oil on rhetoric alone. The key signals will be whether diplomatic channels stay open, whether tanker traffic through the strait slows, and whether major producers adjust their output in response. Until those markers move, traders are likely to keep trading the headlines.