Oil prices held gains as peace talks between the US and Iran stalled and shipping through the Strait of Hormuz slowed. This was reported by Qazaqyia.kz citing Reuters.
Market participants are closely monitoring geopolitical tensions that threaten global oil supplies. The Strait of Hormuz is one of the world's most critical oil transit routes, carrying millions of barrels daily. The slowdown in shipping has raised concerns about supply disruptions, supporting higher prices.
The stall in US-Iran talks has increased regional instability and heightened market uncertainty. Analysts suggest that if the situation escalates, oil prices could rise further.
Currently, the market remains cautious, awaiting further developments. Investors are sensitive to geopolitical news and assessing risks.