Brent Crude Rises as Iran–US Negotiations Stall

(MENAFN) Brent crude prices moved sharply higher on Monday, climbing above $105 per barrel as the lack of progress in negotiations between Iran and the United States kept global supply risks elevated and traders focused on potential disruptions.

The international benchmark, Brent crude oil, was trading at $105.55 per barrel at 9:26 a.m. local time (0626 GMT), marking an increase of about 4.2% from the previous session’s close of $101.29.

Meanwhile, the US benchmark, West Texas Intermediate, also posted strong gains, rising roughly 4.9% to $100.06 per barrel compared with $95.42 in the prior trading day.

Market momentum was driven largely by ongoing instability in the Middle East, where tensions continue to raise fears of prolonged disruptions to global energy flows. Traders remain particularly focused on risks surrounding the Strait of Hormuz, a critical passage for a significant share of the world’s oil shipments, where any escalation could quickly tighten supply conditions.

At the same time, uncertainty over diplomatic talks between Iran and the United States has added further pressure to energy markets, as investors assess the likelihood of continued geopolitical friction.

Adding to market concerns, Israeli Prime Minister Benjamin Netanyahu indicated that the conflict remains unresolved and warned that key issues are still pending. He stated:
"I think it accomplished a great deal. But it's not over because there's still nuclear material, enriched uranium, that has to be taken out of Iran,"

His remarks, broadcast in an interview, reinforced expectations that regional tensions are unlikely to ease in the near term, keeping energy markets on edge and sustaining upward pressure on oil prices.

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