Oil prices rise, snap five day losing streak as Iran vows it will not surrender

Oil snapped a five-day losing streak Wednesday after Iranian President Masoud Pezeshkian declared the Islamic Republic will not surrender to the U.S., injecting fresh geopolitical tension into markets that had been pricing in diplomatic de-escalation. Brent crude rose during the session following talks between Iran and the U.S. that had initially sparked hopes of a negotiated resolution to Middle Eastern conflict.

The reversal came as traders weighed conflicting signals: diplomatic engagement between Washington and Tehran suggested potential supply stability, while Pezeshkian's defiant stance raised the prospect of renewed confrontation. The five-session slide had reflected growing confidence that tensions would ease without disrupting crude flows from the region.

Wednesday's bounce underscores oil's sensitivity to real-time geopolitical developments out of Iran, a major producer whose output and export routes remain vulnerable to sanctions escalation or military action. The back-and-forth rhetoric continues to create whipsaw moves in energy markets as traders attempt to separate posturing from actionable threats to supply.