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Oil Rises as NYT Reports US-Iran Talks on Hold as Deadline Looms

Bloomberg Markets
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Oil prices surged after a New York Times report revealed stalled US-Iran peace talks, with Tehran failing to respond to US negotiating terms ahead of a looming ceasefire deadline. US Vice President JD Vance’s planned trip to Islamabad for de-escalation discussions was postponed, eliminating a key diplomatic opportunity before the Wednesday ceasefire expiration. Brent crude neared $100 per barrel, up nearly 6% from Monday, while West Texas Intermediate futures traded around $91, reflecting heightened market tensions over prolonged conflict risks. The canceled Pakistan talks were considered a final attempt to avert escalation, as the current ceasefire—set to end midweek—hangs in the balance without progress. Analysts warn prolonged geopolitical instability could further disrupt global oil supplies, exacerbating price volatility amid already tight energy markets.
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Oil Rises as NYT Reports US-Iran Talks on Hold as Deadline Looms

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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 1000War With Iran:A pump jack near Imperial, Texas.Oil prices rose on a New York Times report that US Vice President JD Vance’s planned trip to Islamabad to discuss an end to the Iran war has been put on hold after Tehran failed to respond to US negotiating positions.Brent traded just below $100 a barrel after jumping almost 6% on Monday.

June West Texas Intermediate futures, the most active contract for the US benchmark, traded around $91. The scheduled second round of talks in Pakistan had been seen as an eleventh-hour chance for de-escalation before a ceasefire between the US and Iran expires on Wednesday.

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Source: Bloomberg Markets