Brent Crude crosses $95 again as uncertainty looms over US-Iran Talks 2.0 | CVHD

KARACHI – Brent crude oil climbed back toward $95 mark as global markets react to rising uncertainty ahead of US-Iran talks. Concerns over geopolitical tensions and potential disruptions in the Strait of Hormuz added pressure on investors, keeping energy markets highly volatile.

Global financial markets were thrown into fresh turmoil as oil prices spiked sharply, US dollar strengthened, and stock futures slid after attack on iranian vessel in Hormuz.

In early trading, Brent crude futures surged nearly 7% to $96.85 per barrel, reflecting renewed fears over supply disruptions from one of the world’s most critical oil routes.

Brent Crude jumped to $95.29 per barrel, while WTI Crude climbed to $88.77, showing intraday gain of nearly $5 for both benchmarks. Currency markets also reacted swiftly. The euro fell 0.3% to $1.1735, while the Japanese yen eased about 0.2% to 158.95 per dollar, as investors moved back toward safer assets amid rising geopolitical uncertainty.

Oil Prices

Tehran rejected fresh proposals for peace talks with the United States. The development followed comments from former US President Donald Trump, who said he would send envoys for negotiations in Pakistan while simultaneously warning of further strikes if Iran fails to accept US conditions.

Tensions were further inflamed after Washington claimed it had seized an Iranian cargo vessel accused of attempting to breach a blockade. The incident added fuel to already heightened concerns over maritime security in the Strait of Hormuz, a vital artery for global oil and gas shipments.

The dollar’s rebound marked a reversal from Friday’s sharp decline, when optimism over possible easing tensions had lifted global equities and pushed oil prices lower. At that time, reports suggesting a potential reopening of the Strait of Hormuz had fueled hopes of de-escalation.

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