Oil prices climb amid US-Iran talk halt
Oil prices rose today amid declining hopes of reaching an agreement between the United States and Iran, and ongoing geopolitical risks, despite a significant decrease in ship traffic through the Strait of Hormuz. Brent crude futures increased by 1% to $89.40 per barrel, while West Texas Intermediate futures rose to $82.83, after gains of over 5% last week due to attacks on oil tankers in the strait. This development comes amid worsening prospects for resuming negotiations between Tehran and Washington, which supports expectations of a potential price increase if tensions persist.
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