Oil prices climb as US and Iran peace talk doubts grow

Brent Crude Oil rose 2.3% to $104.96 overnight as investors questioned the likelihood of a peace deal between the United States and Iran. The benchmark gained $2.38 after hitting its lowest close in two weeks. Persistent friction over uranium stockpiles and shipping controls suggests Middle East supply risks will continue to support high energy prices.

### Deadlock Over Strait of Hormuz Controls Negotiations remain stalled as both sides clash over a proposed toll system for the Strait of Hormuz. U.S. Secretary of State Marco Rubio stated that while some signs in the talks were positive, any Iranian-imposed toll in the waterway is unacceptable. A senior Iranian source told Reuters that while the gap between the two nations has narrowed, no formal agreement has been reached.