Brent crude rises about 0.3% above $80 as delay in JD Vance Switzerland trip clouds next U.S.-Iran talks

The White House said U.S. Vice President JD Vance’s planned trip to Switzerland to lead the next round of U.S.-Iran talks has been delayed, without giving a reason. The two sides had signed the “Islamabad Memorandum of Understanding between the United States of America and the Islamic Republic of Iran,” committing to reach a final peace deal within 60 days and reopening commercial shipping through the Strait of Hormuz. With the strait carrying nearly 20% of global oil shipments, the postponement raised concerns about transit stability and regional supply risks. Brent crude rose more than 0.3% to above $80 a barrel, while WTI gained 0.5% to $76.28 a barrel.