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Oil Advances as US and Iran Offer Conflicting Comments on Talks

Charlie Zhu, Sarah Chen
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⚡ Quantum Brief
Oil prices surged as US-Iran tensions escalated over conflicting statements on peace talks, with WTI nearing $91 and Brent exceeding $102 per barrel amid fears of prolonged supply disruptions. The Strait of Hormuz remains closed due to the ongoing war, crippling global crude flows and exacerbating energy crisis risks as both nations dig in on opposing demands. Tehran dismissed US diplomatic overtures, insisting on full sovereign control over the waterway as a precondition for negotiations, further complicating resolution efforts. The White House maintained talks are active, but Iran’s rejection and new conditions deepened market uncertainty, triggering a 2% rebound after prior losses. Analysts warn prolonged standoffs could push prices higher, straining global economies already grappling with tight energy supplies and geopolitical instability.
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Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000Oil climbed as the US and Iran offered conflicting comments on efforts to end the war that’s shuttered the Strait of Hormuz, choked off swathes of crude production, and stoked concerns of a global energy crisis.West Texas Intermediate rose toward $91 a barrel, after ending about 2% lower on Wednesday, as Brent closed above $102. While the White House insisted peace talks are ongoing, Tehran rejected the US overtures and issued its own conditions, including sovereign controlBloomberg Terminal over the critical waterway.

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