Commodities
$100 Oil Prices Hold as US-Iran Talks Yield Possible Breakthrough
Oil prices held above $100 per barrel on September 25 as investors weighed a possible breakthrough in US-Iran talks against continued tightness in the market.
Brent crude, the global benchmark, climbed nearly 8% from its Wednesday low of close to $98 per barrel, touching an intraday high near $107 on Thursday after rising as much as 5% during the session.
The rally came despite reports that Washington and Tehran were exploring a phased agreement to reopen the Strait of Hormuz. This move would ease tensions in the region and potentially boost global oil supplies.
However, caution across several market indicators kept prices elevated overall, reflecting ongoing concerns about supply disruptions in the Middle East.