Oil prices volatile amid uncertain US-Iran deal talks

Brent Crude Oil fell 2.7% to $102.22 a barrel on May 21 as diplomatic uncertainty clouded the outlook for the conflict involving the United States, Israel, and Iran. Prices swung in a $5 range following reports of a new Iranian directive that threatens to stall peace negotiations. The volatility underscores investor anxiety over supply stability as Iran tightens its grip on the Strait of Hormuz.

### Tehran Hardens Stance on Maritime Control Oil prices initially jumped 3% during the morning after a directive from Ayatollah Mojtaba Khamenei reportedly signaled a harder line on U.S. demands. This shift follows Iran's establishment of the "Persian Gulf Strait Authority" to oversee a controlled maritime zone. The new authority complicates efforts by President Donald Trump to broker an end to the war.