Buy WTI by Aug 31, 2026.

Vance's comments on May 28 fueled optimism around a potential US-Iran deal, helping push oil lower as traders priced in de-escalation and a possible reopening of Hormuz. But renewed military action and uncertainty around negotiations have since reversed part of that move. Brent is back around $95 and WTI near $92 after a sharp rebound from last week's lows. The market keeps swinging between "deal incoming" and "conflict escalating" narratives, and that uncertainty is now driving oil more than fundamentals. …