Brent Crude Surges Past $100 Amid US-Iran War Uncertainty

Brent crude futures surged to $100.35 per barrel on Thursday, reversing earlier losses as markets factored in the uncertainty surrounding US-Iran talks aimed at ending the war that has disrupted Middle East energy flows.

The US benchmark West Texas Intermediate rose by 2.45% to $92.62 during the same session, with investors weighing indications of improving regional shipments against fears that the recovery could stall without a durable agreement to halt the conflict.

Tehran has set conditions for ending hostilities, including ending hostilities on all fronts, lifting the US naval blockade, and releasing frozen Iranian assets. The Strait of Hormuz, a critical chokepoint for global oil traffic, remains central to diplomatic calculations.