Oil Gains After Tehran Declines Talks

Oil prices increased due to Iran's failure to meet with U.S. envoys in Qatar, heightening pressure on the ongoing four-month ceasefire efforts. Brent crude rose by 0.69% to reach $73.45 per barrel, while U.S. West Texas Intermediate climbed by 0.91% to $70.13. This came after American officials arrived in Qatar, confirming that the meetings are limited to intermediaries without direct negotiations with Iran, in an attempt to prevent the collapse of the ceasefire, ensure continued oil flows, and reduce tensions in the region.

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