Oil heads higher as US-Iran peace talks in stalemate
Brent climbed above $105 a barrel as traders weighed stalled US-Iran talks and renewed concerns over supply disruptions in the Strait of Hormuz.
- On Monday, President Donald Trump rejected Iran's proposal to reopen the Strait of Hormuz, pushing Brent crude futures above $106 a barrel as geopolitical tensions escalated.
- The ongoing conflict, which began February 28, 2026, disrupted global energy flows and prompted Tehran to propose a 7-day ceasefire at the United Nations General Assembly in exchange for sanctions relief and an end to the U.S. naval blockade.
- Brent crude rose 1.74% to $106.14 a barrel while U.S. West Texas Intermediate gained 1.23% to $93.55. Trump told Axios, "They want to make a deal, but it is not the deal that I want to make."
- Market volatility intensified as Asian equities declined and bond yields climbed amid inflation concerns. ANZ analysts warned that refined oil products remain a critical pressure point, intensifying inflation risks globally.
- Investors now focus on Wednesday's PCE Index for Federal Reserve policy signals, while Trump expects negotiations to resume this week despite reports he may consider military strikes after the midterm elections.
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371 Articles
While Trump rejects an alleged offer to Iran, Tehran exacerbates its threats. Oil prices continue to rise.
Oil prices rose again on Tuesday as uncertainty over negotiations between the US and Iran is raising fears of higher inflation and shaking global markets. Brent crude, the international benchmark, rose about 2 percent to above $107 a barrel, while US WTI crude rose 1.8 percent to above $94 a barrel. These levels are significantly higher than prices in late February, before the outbreak of the war with Iran, when Brent was trading around $72 a ba…
Fuel Price: Crude oil price drops after Monday's spike
A market survey by DAILY POST showed that Brent and West Texas Intermediate, WTI crude declined to $105 and $92 per barrel, respectively, on Tuesday, after rising to as high as $107 per barrel on Monday. At the weekend, Brent and WTI crude blends jumped amid reports that the United States President had rejected Iran’s […] Fuel Price: Crude oil price drops after Monday’s spike
On the 28th, U.S. President Trump told reporters at the White House that he had held talks with Iran through an intermediary. While Trump did not elaborate on the details of the talks, he said that "things will move fairly quickly"…
“They overplayed their hand”: Trump expects more Iran talks, keeps strikes on table
Trump rejected Iran's latest proposal but expects more talks this week. He said renewed strikes on Iran are possible before the November midterms. An Iranian official said Iran halted 20 ships in the Strait of Hormuz over 48 hours. Iran's foreign minister said Tehran is ready for diplomacy or war. U.S. gas prices hit $4.49 a gallon, a record for this time of year. President Donald Trump told Axios on Sunday he anticipates further negotiation…
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