Oil prices jump as Iran halts talks and threatens blockade
Brent crude futures rose over 5 percent to 95.92 dollars per barrel after Tehran suspended indirect negotiations with the U.S. and signaled plans to block vital shipping routes. The escalation follows renewed strikes and Israeli troop movements in Lebanon while global supply risks intensify.
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Brent Crude Oil rose 5.2% to $95.92 a barrel after Iran halted indirect nuclear talks with the United States. The escalation threatens to block the Strait of Hormuz, a vital global oil and liquefied natural gas route. A prolonged blockade risks a sharp energy supply shock and further price spikes.
