Oil prices volatile above $100 amid Middle East tensions and Iran diplomacy signals

Brent crude hovered above $100/barrel with swings tied to Middle East conflict and a US blockade of Iranian ports. One post said oil prices fell as Trump signaled progress in Iran talks. Another said backwardation had benefited crude-oil ETF holders since the Iran war began, with UCO at a year-to-date high and BNO at an all-time high.