Oil Prices Rise Following US Warning to Iran Amid Nuclear Talks

Kathmandu. Oil prices rose on Tuesday after US President Donald Trump issued a warning to Iran. New talks regarding Iran's nuclear program are currently underway between the two countries in Geneva.

The price of West Texas Intermediate crude rose 1.5 percent to $63.80 per barrel, while the 'international benchmark Brent North Sea crude' also showed a small increase.

According to analyst Arin Chiekre, "Iran and the US have started new talks, and Trump has warned that Tehran must face consequences if it fails to reach an agreement."

Iran has made it clear that the elimination of US sanctions is an essential part of any nuclear deal. In other market indicators, European stock markets appeared stable in early trading. Markets in Tokyo and China were closed due to holidays. Wall Street is reopening on Tuesday due to a US public holiday.

In the foreign exchange market, the US dollar strengthened against the British pound after data showed unemployment in the UK reached a five-year high. Analysts indicated that the 5.2 percent unemployment rate in the last quarter of last year increased the likelihood that the Bank of England will cut interest rates in the coming month.

Germany, Europe's largest economy, is likely to find it difficult to regain growth in 2026. The German Chamber of Industry and Commerce stated that geopolitical insecurity, high costs, and weak domestic demand will curb growth.