Crude oil futures staged a sharp recovery on Tuesday morning after Iran flatly denied that any diplomatic exchanges with the United States had taken place, according to Ship & Bunker. The rebound reversed heavy losses suffered just a day earlier, when signals of potential diplomatic progress had briefly weighed on prices.
Brent Recovers Above $104 Per Barrel
As reported by Ship & Bunker, the ICE May Brent contract was changing hands at $104.16 per barrel at 4:44 AM London time on Tuesday — a gain of $4.22 per barrel from Monday’s closing settlement of $99.94.
The previous session’s selloff had been triggered by statements from US President Donald Trump, who described discussions between the two countries as “very good and productive” and pointed toward a possible resolution in the ongoing conflict. Those remarks had fuelled optimism in markets before Iran’s swift rebuttal brought it to an abrupt end.
Tehran Pushes Back Sharply
Iranian officials moved quickly to contradict the US president’s account. Ship & Bunker reports that Mohammad Bagher Ghalibaf, Speaker of Iran’s Parliament, posted a pointed denial on social media on Monday.
“No negotiations have been held with the US, and fake news is used to manipulate the financial and oil markets and escape the quagmire in which the US and Israel are trapped,” Ghalibaf wrote.
Strike Postponement Adds to Market Uncertainty
Adding another layer of complexity to an already volatile picture, Ship & Bunker also notes that President Trump had announced via social media on Monday a five-day delay to any potential strikes on Iranian energy infrastructure — a move he attributed to the talks he described as having taken place.
With Tehran denying those talks ever occurred, the basis for the postponement remains in dispute, leaving energy markets in a state of heightened uncertainty.
Gulf Bunkering does not provide operational or security guidance. This article is for informational purposes only. Operators should consult flag state authorities, P&I clubs, and relevant advisories for decisions relating to transit planning.
Sources: Ship & Bunker
