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Oil Prices Soar as US-Iran Conflict Escalates Amid Peace Deal Uncertainty

Guavy AI Editorial Team
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The global oil price has risen over 2% after the US military carried out strikes in Iran, adding to uncertainty about whether a peace deal will be reached soon.

US Secretary of State Marco Rubio said negotiations could take 'a few days' to complete, quashing hopes for an immediate end to the conflict.

The Brent crude oil price rose $2.43 (2.5%) to $98.57 a barrel, while US West Texas Intermediate fell $4.36 (4.5%) from Friday's close due to a settlement price mismatch.

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