Oil rises as markets assess supply risk after Iran denies US talks - Reuters
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Oil prices rose after Iran denied US talks, removing expectations of sanctions relief and increased crude supply.
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Oil prices rose as traders reassessed geopolitical risks following Iran's denial of ongoing negotiations with the United States. The Iranian statement removes a key factor that had dampened crude prices, as market participants had priced in the possibility of a diplomatic deal that could ease international sanctions and increase supply. With talks now reportedly off the table, investors face renewed concerns about potential supply disruptions from one of OPEC's largest producers. The price movement reflects oil markets' sensitivity to U.S.-Iran relations, which have historically shaped global energy supplies and costs.
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