Oil climbs as U.S.-Iran trade strikes while Trump says negotiations with Tehran underway

Oil prices are surging as tensions between the U.S. and Iran escalate following reported attempted attacks by Iran, which were thwarted by the U.S. Central Command. Amidst these conflicts, President Trump has indicated ongoing negotiations with Tehran, suggesting that a full-blown confrontation might still be averted. The market's reaction underscores the global economy's sensitivity to geopolitical instability, particularly in a region crucial for oil supply.