Oil prices have surged past $91 amid uncertainty about a resolution to the ongoing conflict with Iran, following the expiration of the Memorandum of Understanding (MoU). President Trump has publicly rejected any extension of the truce, asserting that Iran is unlikely to engage in a deal that meets U.S. expectations. Amidst these diplomatic tensions, Trump has threatened military action against Oman if Iran does not comply with his demands, further complicating prospects for peace. As pressure mounts, the U.S. administration appears to be pivoting back to economic sanctions while dismissing the likelihood of future negotiations with Iran, prompting concerns in the global oil market and the broader Middle East geopolitical landscape.