Brent Crude Set for Strong Weekly Gain as Trump Warns Iran Over Delayed Deal

Brent crude prices were heading toward a weekly gain of nearly 6% after US President Donald Trump signaled growing frustration with Iran and warned that patience from Washington was running out amid the ongoing Strait of Hormuz crisis.

Speaking during an interview on Thursday, Trump stated that Iran should move quickly toward an agreement, adding that he would not remain patient for much longer.

Oil markets remained supported by concerns surrounding restricted energy flows through the Strait of Hormuz, even though Iran recently claimed that around 30 vessels had successfully passed through the waterway since Wednesday.

Earlier, traders had hoped the recent Trump-Xi meeting in Beijing could produce positive developments regarding the Hormuz situation and broader Middle East tensions. However, no major breakthrough emerged from the discussions.

Instead, market sentiment turned more bullish after Trump stated that China had shown interest in purchasing US crude oil, while ongoing concerns about tightening global inventories continued supporting prices.

Analysts noted that market attention has now shifted back toward the deadlock surrounding Hormuz and the possibility of renewed military escalation if diplomatic efforts fail to produce results.

Some market participants believe China could still play a role in pressuring Iran toward an agreement with the United States in order to restore normal energy flows through the Strait. However, analysts also warned that markets may be placing excessive expectations on the outcome of US-China discussions.

Meanwhile, Iran’s Revolutionary Guard stated that 30 vessels had crossed the Strait of Hormuz in recent days and encouraged countries to negotiate passage arrangements for ships moving through the region.

Despite the recent improvement, vessel movement through Hormuz remains far below normal levels. Before the conflict, the Strait typically handled around 140 vessels daily, highlighting the continued disruption to global shipping and energy trade.

Among the ships that recently crossed the Strait were oil tankers reportedly heading toward Japan and China, reflecting cautious attempts to restore limited trade flows through the strategically important route.

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