Oil, Gas Whipsaw Post-Settlement as Trump Extends Iran Ceasefire

Oil and gas whipsawed in post-settlement trading as US President Donald Trump extended a ceasefire with Iran even as peace talks falter and a blockade of the Strait of Hormuz keeps flows locked up.

Oil held gains post-settlement after Trump said Tuesday that the US would hold off on fresh attacks on Iran but that a naval blockade of the vital shipping route would continue until “discussions are concluded, one way or the other.”