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Oil prices climb amid US-Iran deal doubts
Oil prices rose significantly amid escalating tensions in the Middle East and the lack of an agreement between Washington and Tehran, fueling concerns over global energy supplies. Brent crude oil prices reached $91.49 per barrel, up 0.7%, while West Texas Intermediate (WTI) climbed to $85.25, marking the highest level since July. This increase was driven by stalled peace talks, ongoing attacks on oil tankers, and persistent threats to the strategic Strait of Hormuz. Discussions and escalation between the United States and Iran continued, diminishing chances of reaching an agreement that would reopen the strait and improve shipping conditions. Meanwhile, data indicate that shipping activity remains limited and that conflicts are affecting global oil markets.
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