Stalled US-Iran Talks Send Brent Crude Prices Soaring Past $100
Brent crude oil prices rose above $100 a barrel on Thursday due to concerns over prolonged conflict and potential disruptions to oil supplies.
The US-Iran talks stalled, reviving supply concerns. Reports indicate that US Secretary of State Marco Rubio asked an Iranian delegation, including Foreign Minister Abbas Araghchi, to leave the country immediately after talks between Washington and Tehran reached an impasse.
US officials claimed that limited progress in contacts involving Qatari mediators over the weekend led to this decision. However, Iran's Permanent Mission to the UN denied reports that the delegation had been forced by the US to leave New York.
The developments weakened expectations for an end to the conflict and the reopening of the Strait of Hormuz, supporting oil prices further.