US-Iran Tensions Send Brent Crude Soaring to $84.87

Brent crude futures surged to $84.87 per barrel on Tuesday as diplomatic tensions between the US and Iran intensified.

The price hike of 1.31% was largely driven by uncertainty over potential negotiations, which has led to increased volatility in global energy markets.

U.S. President Donald Trump's recent criticism of Iranian leadership on social media, alleging duplicity in ongoing talks, further fueled concerns about a possible escalation in geopolitical friction.

Iranian foreign ministry spokesperson Esmaeil Baqaei confirmed that no negotiations are currently taking place between Tehran and Washington, leading to increased worries among traders about supply disruptions in the Middle East.