How could Middle East tensions impact oil prices?

Stocks in Europe and the US rallied as oil and gold retreated yesterday on news that Iran is willing to resume talks on its nuclear program. The market interpreted this as a sign that Iran either has no intention — or possibly no means — to escalate the war, easing concerns about potential disruption to the Strait of Hormuz, a critical chokepoint through which around 20% of global oil and gas flows transit. However, this is not a classic de-escalation story. While Iran appears to be signalling restraint, former President Donald Trump urged the evacuation of Tehran, and Israel has vowed to continue its strikes. As such, energy prices rebound this morning, while equity futures hint at bearish session. What could happen from here, and how energy markets could impacted? Listen to find out more?