Oil Rises Amid Uncertainty in US-Iran Negotiations

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Oil Rises Amid Uncertainty in US-Iran Negotiations

Oil prices climbed on Friday as investors doubted any imminent resolution in U.S.-Iran negotiations, with disagreements persisting over Iran’s uranium reserves and the Strait of Hormuz blockade.

Brent crude increased by $2.38, or 2.3 percent, to reach $104.96 per barrel as of 00:34 GMT, The Caspian Post reports, citing Al Jazeera.

Meanwhile, US West Texas Intermediate (WTI) crude gained $1.73, or 1.8 percent, climbing to $98.08 per barrel.

The gains came after both benchmark crude contracts fell by around 2 percent on Thursday, marking their lowest levels in nearly two weeks.

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Oil Rises Amid Uncertainty in US-Iran Negotiations

Oil prices climbed on Friday as investors doubted any imminent resolution in U.S.-Iran negotiations, with disagreements persisting over Iran’s uranium reserves and the Strait of Hormuz blockade.