Commodities
US-Iran Talks Stall, Sending Oil Prices Higher
Oil prices rebounded on Wednesday after Tuesday's sharp decline, driven by stalled U.S.-Iran negotiations and tight fuel markets.
The WTI crude price rose to approximately $90.20 per barrel, up 0.92% from Tuesday's settlement of $89.38.
Brent crude also increased, trading at around $103.16 per barrel, a 0.56% gain from the previous day's settlement of $102.59.
The rebound is attributed to renewed geopolitical risk premium after U.S.-Iran negotiations hit a roadblock, despite improved physical supply conditions in the Gulf region.