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الشارقة 24
Oil pauses amid US-Iran talks deadlock
Oil prices declined at the beginning of the week to around $88.72 per barrel, amid a slowdown in tanker traffic through the Strait of Hormuz, with no signs of restart negotiations between the United States and Iran to end the conflict in the Middle East. This occurred while Iran has yet to decide on resuming talks, and the U.S. President called for accepting a slight increase in gasoline prices as long as the escalation continues. Shipping data estimated a decline in transit through the strait following attacks on oil tankers and a refinery. It is noted that oil prices have remained relatively stable amid uncertainty regarding the future of Iranian-American relations.
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