Oil prices swing as stalled U.S.-Iran talks meet recovering exports

Oil prices have swung sharply as traders weigh stalled U.S.-Iran diplomacy against signs that Middle Eastern crude exports are recovering. The two sides remain far apart on ending the conflict and reopening the Strait of Hormuz, a vital route for global energy shipments, while mediators continue trying to broker talks. Increased shipments from Saudi Arabia and the United Arab Emirates have eased some supply concerns, but rerouting crude remains costly and any escalation could disrupt flows. Recent declines have not erased the rise in oil prices since the conflict began, and elevated energy costs are contributing to inflation concerns and pressure on financial markets.