Oil prices moved higher as the U.S.-Iran memorandum reached its 60-day deadline without an extension.

Iran said it would not extend the agreement, while discussions over the Strait of Hormuz remain unresolved. The waterway is an important route for global energy shipments.

The situation has increased attention on oil supply and shipping conditions.

Simple takeaway: Uncertainty around the U.S.-Iran agreement is keeping the oil market in focus.

This post is for informational purposes only and is not financial advice.