Oil prices rise as US-Iran peace talks stall
Brent, the global benchmark, rose by nearly 2% to $107.26 (£79.25) a barrel, while US-traded crude was up by 1% at $95.40. Kenya breaking news | Kenya news today |..
✨ Key Highlights
Oil prices have surged as a planned second round of peace talks between the US and Iran stalled, exacerbating global energy supply pressures.
- Brent crude rose nearly 2% to $107.26 a barrel, while US-traded crude increased by 1% to $95.40.
- US President Donald Trump announced the cancellation of negotiations with Iran in Islamabad, Pakistan.
- The critical Strait of Hormuz waterway, through which about a fifth of the world's crude oil and LNG passes, remains effectively closed due to the conflict.
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