US-Iran Deal Hopes Fade, Sending Oil Prices Soaring

Oil prices have surged as optimism over a US-Iran deal fades, leaving markets to reassess ongoing supply disruptions.

The latest bout of enthusiasm dissipated after Iran demanded war reparations from the United States, which President Trump rejected.

Trump insisted that Iran pay reparations for deaths of US soldiers and Iranian civilians over the last few decades, suggesting any potential deal remains far off.

This means risks remain skewed to the upside for oil prices, underscoring their sensitivity to headlines about a US-Iran agreement.