U.S. Oil Prices Reverse Sharply After Initial 10%+ Drop on U.S.-Iran Peace Talk Reports

U.S. and global markets repriced on reports of possible U.S.-Iran de-escalation, with oil initially dropping more than 10% as fears of supply disruption through the Strait of Hormuz eased, before U.S. crude later rebounded 8% within an hour as doubts over the reported deal emerged. One report cited WTI down 4% at $93.14 and Brent down 3.48% to below $97 during the move. Equities recovered from the prior session’s losses and later pushed higher, with the S&P 500 and Nasdaq reported at record highs, while the VIX fell 5%. In crypto, Bitcoin held near or moved back above $81,000 after falling more than 2.3% from a four-month high of $82,751, while Ether traded below $2,330. The combined reporting shows geopolitical headlines driving rapid shifts in oil, stocks, volatility, and digital assets, though exact index levels and full terms of any agreement were not provided.

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