US-Iran Talks Stall as Oil Prices Remain High Amid Interest Rate Concerns
The US-Iran talks have made little progress, and oil prices remain above $102 per barrel. The Brent crude price settled at $103.08 on Wednesday after moving back above $103.
Renewed concerns over higher interest rates are weighing on global markets. Wall Street ended sharply lower on Wednesday, while most Asian markets traded in the red on Thursday.
The US Federal Reserve's decision to raise interest rates again has strengthened expectations. Fresh business activity data showed the US economy expanding at its fastest pace in more than five years.
The Reserve Bank of India is also expected to tighten monetary policy amid elevated crude oil prices and inflation risks. The US 10-year Treasury yield remained above 5.1%, reaching its highest level since 2007.