Oil prices rise as US-Iran peace talks remain fragile

Brent crude rose to $105 as fragile US-Iran talks fueled supply fears. Analysts warn that failing to reach a deal by June may drive prices even higher.

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Brent Crude Oil rose 0.8% to $105.07 as fragile negotiations between the United States and Iran fueled supply fears. U.S. West Texas Intermediate gained 1% following a 2.8% surge across both benchmarks on Monday. Geopolitical tensions over the Strait of Hormuz keep upside risks on the table if no deal emerges by late May.

Geopolitical Friction Stalls Ceasefire Hopes

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