---
title: 'Oil Gains as US-Iran Talks Stall and Oman Terminal Suspends Loadings'
url: 'https://thediplomaticinsight.com/oil-gains-us-iran-talks-stall-oman-terminal-suspends-loadings/'
author: 'News Desk'
date: '2026-06-05T13:38:43+05:00'
categories:
  - 'Economy'
tags:
  - 'Donald Trump'
  - 'Oil'
  - 'Oman'
  - 'US–Iran Talks'
---

# Oil Gains as US-Iran Talks Stall and Oman Terminal Suspends Loadings

**New York (TDI):** Oil prices edged higher on Friday, recovering some of the losses recorded in the previous session, amid uncertainty surrounding US-Iran negotiations and fresh supply concerns in Oman.

Brent crude rose 33 cents, or 0.35%, to $95.36 a barrel in early trading, while US West Texas Intermediate (WTI) gained marginally to $93.06 a barrel. Despite Thursday’s sharp declines, both benchmarks remained on track for their first weekly gain in three weeks, with WTI up more than 6% over the week.

Market sentiment was influenced by continuing tensions in the Middle East, where negotiations between Washington and Tehran have yet to produce a breakthrough. At the same time, shipping activity through the Strait of Hormuz remains constrained, adding to concerns over global energy supplies.

Additional support came after reports that Oman’s Mina al Fahal oil terminal suspended loading operations following an explosion near its offshore loading facilities in what was described as a suspected drone attack.

**Read More: [Hostilities Intensify in US–Iran Conflict as Oil Prices Jump](https://thediplomaticinsight.com/hostilities-intensify-in-us-iran-conflict/)**

Traders are also closely monitoring global crude inventories, with analysts warning that declining stockpiles could tighten supplies and push prices higher during the third quarter of the year.

On the political front, Hezbollah leader Naim Qassem rejected a proposed US-backed arrangement aimed at ending hostilities between Israel and Lebanon. Iran has repeatedly linked progress in its discussions with Washington to a ceasefire in Lebanon, making the issue a key factor in broader regional diplomacy.

US President Donald Trump said on Thursday that he remained hopeful about progress between Israel and Lebanon and expressed support for efforts to restore peace in the country.

Analysts noted, however, that markets continue to react to rapidly changing developments. According to IG market analyst Tony Sycamore, optimism remains tempered by conflicting headlines and uncertainty surrounding diplomatic efforts.

**Read More: [Oil Prices Ease as Markets Weigh Uncertain US–Iran Talks](https://thediplomaticinsight.com/oil-prices-ease-markets-weigh-uncertain-us-iran-talks/)**

Meanwhile, the Organization of the Petroleum Exporting Countries (OPEC) maintained its forecast for global oil demand growth of 1.2 million barrels per day this year. OPEC Secretary-General Haitham Al Ghais said the outlook remains intact despite geopolitical tensions in the Middle East and disruptions affecting the Strait of Hormuz.

Separately, shipping data indicated that Iranian oil exports have fallen to their lowest level in six years, largely due to US maritime restrictions, although weaker demand from China has limited upward pressure on prices.