Oil Prices Climb 2 Percent Amid Tensions
Oil prices rose by about 2% on Thursday, as tensions in the region persisted and talks between the United States and Iran showed little progress. Reports suggested that Iran gave Washington a one-week deadline to meet its demands, such as lifting the maritime blockade. Brent futures increased to $105.11 per barrel, while West Texas Intermediate futures climbed to $93.64, amid concerns that a US ban on diesel exports could further disrupt global supplies. Additionally, US distillate inventories fell by 428,000 barrels, while crude oil stocks rose to 426.4 million barrels, as the dollar remained high near its highest level in two months.
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