Oil prices volatile on Trump comments about Iran, Strait of Hormuz concerns

Iran and Oman are continuing diplomatic talks focused on the security of the Strait of Hormuz. Simultaneously, oil prices have become volatile in response to comments made by Trump regarding Iran and concerns over the Strait of Hormuz. Market predictions indicate a 43.5% probability of a U.S.-Iran diplomatic meeting by August 31, 2026, while the likelihood of crude oil reaching a new all-time high by September 30 stands at 7.4%.