Oil Prices Surge as US-Iran Peace Talks Stall
Oil prices have risen significantly following the stalling of peace talks between the United States and Iran. Brent crude, the global benchmark, increased by 2.2% to $107.70 per barrel, while U.S.-traded crude rose by 2.1% to $96.40. The escalation comes after President Trump announced the cancellation of planned negotiations with Iran, amid ongoing tensions in the region. The closure of the Strait of Hormuz, a critical waterway for global energy supplies, has further intensified pressure on oil markets. 
