Commodities
Oil Prices Soar Amid US-Iran Talks Uncertainty
Oil prices surged more than 2% on Thursday as uncertainty over US-Iran negotiations weighed heavily on the prospects for sustained energy supply recovery in the Middle East.
The international benchmark Brent crude futures gained 2.4% to $100.35 per barrel at 0830GMT, reversing earlier losses, while the US benchmark West Texas Intermediate rose 2.45% to $92.62.
Investors were torn between signs of improving regional crude shipments and concerns that the recovery could falter without a lasting agreement to end the Iran war.
The Strait of Hormuz, a major route for global oil shipments, remains central to negotiations and the outlook for regional energy flows.