Iran's Compensation Demands Sink Oil Price Recovery

Brent crude futures (OIL) are on the rise after contract rollover and are gradually moving back towards the $100 per barrel area.

Talks between the U.S. side and Iranian delegation have failed to produce a breakthrough, with Tehran presenting highly demanding conditions for reopening the Strait of Hormuz, including a large compensation package related to the military operation.

The U.S. reportedly rejected Iran's terms, which included $300 billion in compensation, the full lifting of U.S. sanctions, and the release of $100 billion in frozen Iranian assets.

Iran also demanded an end to the U.S. naval blockade and withdrawal of U.S. troops from the region, as well as a regional ceasefire covering Lebanon and Gaza.