Commodities
US-Iran Tensions Drive Oil Prices Higher Amid Supply Concerns
Oil prices rose on Friday as markets closely watched tense US-Iran talks. The faltering efforts to end the war are raising concerns about potential disruptions to global crude supplies.
Brent crude futures gained 1.45% to $88.33 per barrel, while US oil prices increased by 1.26% to $82.27. Analysts warn that a major escalation could trigger a sharper rise in oil prices.
The US threatened to extend its naval blockade of Iran, adding to potential supply concerns. The threat came as talks between the two nations stalled, leaving markets on edge.