US-Iran Talks Murmurs Spark Risk Rally, WLDOIL Slips 1% to $94.65

Murmurs of resuming US-Iran talks have lifted risk sentiment, driving equities higher and pulling WLDOIL down over 1% to $94.65 after recent climbs to $97. The saga began April 5 with Trump's Hormuz reopening ultimatum, escalating via US/Israeli strikes on Kharg Island and Iran's Jubail attack, spiking prices to $115-117/bbl and cutting ~20% of 21M bpd global flows with ~500M barrels lost supply. Partial reopenings and diplomacy moderated swings to $92/bbl, but April 22 talks collapse, indefinite ceasefire extension, and Trump's nuclear warnings fueled fresh upside before today's de-escalation pullback.