Oil Climbs Above $100 As Iran Rejects US Talks, Ceasefire Hopes Fade
Oil prices have risen above $100 as Iran rejects direct talks with the US, fueling market uncertainty and geopolitical tensions. The conflicting narratives from Washington and Tehran have added to the uncertainty, with traders weighing the risk of prolonged tensions against hopes of de-escalation.
Oil prices rose on Thursday after Iran signaled it is not engaged in direct negotiations with the US. Brent crude climbed 1.21% to $103.46 per barrel, while US West Texas Intermediate gained 1.35% to $91.54 per barrel. Iranian Foreign Minister Abbas Araghchi said recent exchanges between Tehran and Washington should not be viewed as negotiations. The US maintains that talks are ongoing, with President Donald Trump saying discussions are in progress. The conflicting narratives have added to market uncertainty, with traders weighing the risk of prolonged tensions. The Middle East's critical role in global oil supply has driven price volatility, keeping markets on edge.
This content was automatically generated and/or translated by AI. It may contain inaccuracies. Please refer to the original sources for verification.