Brent crude was rising slightly Friday after U.S. Vice President JD Vance suspended plans to meet with Iranian representatives, even as more oil tankers passed safely through the critical Strait of Hormuz — a split picture that underscores just how fragile the recently signed U.S.-Iran peace agreement remains.

Brent crude futures, the international standard, were up 0.1% at $79.95 a barrel. West Texas Intermediate futures were rising 0.3% to $76.11 a barrel. The modest gains came even as some analysts argued the underlying trend toward de-escalation in the Middle East remained largely intact.

A Reminder That the Peace Deal Remains Fragile

The latest diplomatic wrinkle serves as a reminder that there are still plenty of obstacles to turning the preliminary U.S.-Iran peace deal into a lasting agreement. Brent crude oil prices rose Thursday after Vice President JD Vance warned Israel against further attacks on Iran-backed Hezbollah in Lebanon, raising doubts about the durability of the U.S.-Iran ceasefire agreement.

"The vice president's statements about Israel may have put things back on edge," said John Kilduff, partner with Again Capital. "I think the slightest sort of disturbance is going to register in the market."

Brent crude futures settled Thursday at $79.85 a barrel, up 30 cents, or 0.38%.

Tankers Crossing the Strait Offer a Counterbalance

Despite the diplomatic uncertainty, tangible evidence on the water has continued to support the case that the broader de-escalation trend remains on track. Any concerns in the oil market might be relieved by tangible signs the vital Strait of Hormuz — which normally carries around 20% of the world's........

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