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Oil Prices Climb as US-Iran Talks Stall Amid Diesel Export Uncertainty

Guavy AI Editorial Team
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Oil prices rose around 2% on Thursday as diplomatic talks between the US and Iran showed little sign of progress.

The Brent crude futures price was up $2.03, or 2%, at $105.11 a barrel, while West Texas Intermediate futures were up $1.48, or 1.6%, at $93.64 a barrel.

The rise in oil prices comes as Iran's president told the UN General Assembly that Tehran would never surrender to US pressure.

A senior Iranian official said Tehran was reviewing Washington's response to its peace proposals, which prioritise lifting the US naval blockade on Iranian ports and reopening the Strait of Hormuz.

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