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Brent crude rises as US-Iran deal hopes fade amid stalled talks
Brent climbed to about $87 per barrel as uncertainty over Strait of Hormuz negotiations and Trump’s war compensation demands weighed on hopes for a near-term resolution.
Brent crude rose to around $87 per barrel as renewed uncertainty clouded prospects for a near-term resolution to the US-Iran conflict and the reopening of the Strait of Hormuz, Action Forex reported.
Negotiations over the key shipping route have stalled, with President Trump’s latest demands for Iran to compensate those killed in wars, attacks, and protests adding uncertainty to whether a deal can be reached.
The outlet also pointed to a quiet data backdrop, with attention focused on the US NFIB Small Business Optimism Index for July. It noted the index rose to a four-month high of 97.4 in June, helped by stronger expectations for business conditions and real sales.
Action Forex added that, in Europe and Scandinavia, investor confidence and inflation prints offered signals of varying economic momentum, including a euro area Sentix Investor Confidence reading rising to 0.9 and Norway’s core inflation coming in below expectations at 2.7% year over year.
Latest closeWTI crude $82.30 ▲5.3%|Brent $87.85 ▲5.2%