Oil prices rose as fading hopes for a peace deal between the US and Iran increased supply risks. This was reported by Qazaqyia.kz citing Reuters.
Market participants are concerned about escalating geopolitical tensions in the Middle East. Fears that a stalemate in US-Iran negotiations could threaten oil supplies contributed to the price increase.
Analysts suggest that if the situation worsens further, oil prices could rise even higher, adding pressure on the global economy.