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Commodities

Stalled US-Iran Talks Drive Oil Prices Higher Despite Gulf Export Recovery

Guavy AI Editorial Team
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Oil
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Oil prices rose on Wednesday as stalled negotiations between the US and Iran kept geopolitical risk in the market, outweighing signs that crude exports from the Persian Gulf are recovering.

The Brent Futures expiring December contract gained 1.6% to $97.10, while U.S. West Texas Intermediate also saw an increase.

The recovery in Gulf exports was offset by the stalled talks between the two nations, which kept geopolitical risk high and drove up oil prices.

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