Iran is expected to provide its reply to mediators on Thursday, CNN reports citing a regional source

Iran's expected reply to mediators could signal a critical shift in geopolitical tensions surrounding its nuclear program and its impact on global oil supply. Any positive developments might ease market fears and stabilize WTI prices, while a negative response could heighten tensions and disrupt energy markets further. Keep an eye on how this unfolds, as it may influence risk sentiment across commodities and FX markets as well.