Oil Prices Surge Amid Uncertainty Over U.S.-Iran Strait of Hormuz Negotiations
Oil prices have risen as uncertainty looms over potential negotiations between the U.S. and Iran regarding the Strait of Hormuz. U.S. West Texas Intermediate futures increased by 2.4% to $80.03 per barrel, while Brent crude also saw a similar rise. President Trump has indicated that the U.S. is 'only semi-negotiating' with Iran, relying on a naval blockade rather than airstrikes to exert pressure. Despite previous talks of a deal to allow free movement of ships through the strait, no agreement has been reached, and tensions remain high. 
