Oil Prices Rebound as U.S.-Iran Peace Talks Are Postponed
Oil Prices Rebound as U.S.-Iran Peace Talks Are Postponed What I Cover Irina Slav has been writing about global energy markets since 2007, covering the oil and gas industry, energy security, commodities, and the… Oil prices began to climb once again in early Asian trade on Friday due to uncertainty over the outcome of peace talks between the United States and Iran after Switzerland confirmed the talks had been postponed.
At the time of writing,Brent crudehad climbed back above $80 per barrel whileWest Texas Intermediatehad risen to $76.28.
Reutersreportedon the statement, issued by the Swiss foreign ministry, without providing details.
The statement followed earlier reports that said Vice President J.D.
Vance, who had been scheduled to attend the talks, had canceled his trip.
Reports did not specify the reason for the cancellation, although the IDF has confirmed striking southern Lebanon throughout the night.
Vice President as warning Israel not to criticize Trump’s deal with Iran and not to try to undermine it or risk having the U.S.
Iran’s agreement to the peace deal is contingent on Israel stopping its war in Lebanon, which Israel has indicated it has no plans to do.
“Donald J.Trumpis the only head of state in the entire world who is sympathetic to the nation of Israel at this moment in time, and he happens to be the head of state of the world's superpower.
If I was in the cabinet of the Israeli government, I might not be attacking the only powerful ally that I have anywhere left in the entire world,” Axios cited Vance as saying.
On Telegram, the IDF confirmed that it “struck southern Lebanon throughout the night and continues to strike Hezbollah terrorists and infrastructure sites in several areas across southern Lebanon.” It claims that those strikes were in retaliation for “repeated violations of the ceasefire” by Hezbollah.
Prior to this latest escalation, oil prices had been falling throughout the week, dropping below $80 per barrel as traders assumed the ceasefire agreement would allow oil to start flowing more freely out of the Persian Gulf.
| Product | Price | Change |
|---|---|---|
| Brent Crude | $102.14/bbl | +0.34% |
| WTI Crude | $96.90/bbl | +0.21% |
| EN590 Diesel | $846/MT | +0.18% |
| Jet Fuel A-1 | $1090/MT | +0.55% |
| Mazut M100 | $450/MT | -0.15% |
| Bitumen 60/70 | $470/MT | +0.08% |
| Sulphur Gran 99.5% | $470/MT | -0.44% |
| Urea 46% Gran | $650/MT | +1.12% |
| NPK 16-16-16 | $460/MT | -0.28% |
| Nat Gas TTF | $15.42/MMBtu | +0.92% |
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