Switzerland is reportedly ready to help diplomatic initiatives between the US and Iran

This development suggests potential easing of tensions in the region, which could positively impact oil supply dynamics.

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[ANALYSIS] Iran War Day 46: Fresh talks eyed as blockade takes hold

[CALENDAR ADDITION] Fed's Goolsbee to speak to AP News at 14:45BST/09:45EDT and Yahoo Finance at 15:15BST/10:15EDT

Switzerland is reportedly ready to help diplomatic initiatives between the US and Iran

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IEA Chief Birol met with US Energy Secretary Wright; discussed energy security, according to reports

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If diplomatic efforts progress, it might alleviate concerns over geopolitical risks affecting energy markets, likely driving WTI prices lower. Traders should monitor how this evolves, as lasting peace could reshape risk sentiment and influence commodity valuations.

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