Oil rises 4% as Washington questions Iran talks

Oil prices rose by around 4% today following the United States' escalation of its military strikes against Iran, with the eleventh consecutive attack targeting Iranian sites aimed at weakening its ability to threaten shipping traffic through the Strait of Hormuz. The U.S. Secretary of State stated that Iran is not serious about negotiations regarding the nuclear issue, and the Strait remains a major point of contention between Washington and Tehran, amid growing concerns over potential disruptions to oil supplies due to regional tensions. Analysts also pointed to the continued rise of oil prices above $90 per barrel, highlighting risks of escalating inflation and the possibility of increases in U.S. interest rates, as well as the potential impact on global oil supplies from the suspension of operations at a Russian port.

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