Oil Gains 2.5% Amid US-Iran Tensions

Oil prices increased by 2.5% after Iran announced it would not ease its conditions for reopening the Strait of Hormuz, leading the United States to reject Iran's proposal and fueling uncertainty about the resumption of negotiations to lift the sanctions. Brent crude rose to $107 per barrel, while West Texas Intermediate (WTI) climbed above $94, amid comments from U.S. President Donald Trump, who stated that Iran's conditions had been acceptable a year ago, indicating heightened tensions and expectations of upcoming negotiations. Nevertheless, analysts believe the gains are limited due to unclear scenarios regarding the reopening of the strait, with ongoing concerns over escalating conflict between the U.S. and Iran and the suspension of discussions related to lifting sanctions on Iranian ports.

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