Trump says U.S.-Iran ceasefire deal not final as Brent hits $79.48 and WTI $76.59

President Donald Trump said the anticipated U.S.-Iran ceasefire agreement has not been finalized and could still collapse before a formal signing on Friday, keeping markets focused on potential disruptions through the Strait of Hormuz. Oil prices were lower on the week but moved higher in afternoon trading, with Brent at $79.48 a barrel and West Texas Intermediate at $76.59. The International Energy Agency projected an 8 million barrels-per-day oil supply surplus next year as demand rises by 2 million barrels per day, while warning inventories could still fall to historic lows before the market rebalances.