The negotiation conditions between the U.S. and Iran are difficult to bridge, and Brent crude oil is nearing the $90 mark.

Oil prices continue their recent rebound. Previously, President Donald Trump presented Iran with a set of new demands, further casting a shadow over the prospects of reopening the key shipping route through the Strait of Hormuz. Brent crude is approaching $90 a barrel, up about 13% from a week ago. Iran had earlier made demands for war reparations, and this U.S. leader stated that the demand for Iran to compensate for the casualties in the conflict would be included in the topics for "all future negotiations." The U.S. stance has hardened, further reducing the likelihood of an agreement between the U.S. and Iran to restore shipping in this globally vital energy chokepoint. Before the outbreak of war at the end of February, approximately one-fifth of the world's oil and gas trade passed through this strait. Ole Hansen, the commodities strategy chief at Saxo Bank, stated, "Both Trump and Iran are setting conditions they know the other side will never accept. This essentially indicates that the state of blockade will continue for a long time, and under this context, the logic of bearish trades on oil prices is fundamentally unsustainable."