U.S.-Iran Conflict Drags On, Oil Prices Go Nowhere

Oil futures closed nearly flat on Tuesday, as traders braced for a prolonged standoff between Washington and Tehran following this week’s return of military strikes. The market showed little reaction to the renewed hostilities, signaling that investors now expect the conflict to stretch on without a quick resolution. That view kept crude prices pinned in a narrow range, with neither major supply disruptions nor peace talks driving a decisive move. “The market has priced in a longer fight,” said one energy analyst, noting that the resumption of strikes no longer shocks buyers or sellers. Instead, attention shifts to any actual disruption in oil flows from the region—something that has yet to materialize. Brent crude, the international benchmark, settled slightly lower, while U.S. West Texas Intermediate edged up. The mixed finish underscores a market caught between geopolitical risk and ample global supplies. For now, traders are watching for any sign of escalation that could threaten shipping lanes or production sites. Without that, oil appears stuck, waiting for a clearer signal from either side.