US Crude Futures Soar Amid Weakened Hopes for Iran Peace Deal
US crude futures rose by more than $1 a barrel on August 18 as expectations for a US-Iran peace deal weakened. The West Texas Intermediate (WTI) futures climbed due to concerns over potential disruptions to Middle East oil supplies.
The news comes after President Donald Trump said no talks with Iran are currently scheduled, resurfacing worries about the stability of oil exports from the region. This development has contributed to a significant increase in the price of US crude futures.