Crude Oil Prices Rise Amid Geopolitical Uncertainty Following Iran's Stance on Talks

Crude oil prices increased in the global market on Thursday. The rise in oil prices is attributed to growing uncertainty in the market after Iran clarified that it would not engage in immediate direct talks with the United States.

As of 10:50 AM Nepali time when this news was prepared, the price of Brent crude in the international market increased by 1.6 percent to reach $103.85 per barrel.  

Similarly, the price of West Texas Intermediate (WTI) was trading at $91.61, marking an increase of 1.98 percent. Analysts stated that instability in the global energy market due to rising tensions in the Middle East has put further pressure on oil prices.

Responding to this, Iranian Foreign Minister Abbas Araghchi told state media on Wednesday that there are currently no plans to hold talks with the US. While he acknowledged that messages are being exchanged between Tehran and Washington through friendly nations, he clarified that this should not be considered formal negotiations. Tehran

Reacting to this, US President Donald Trump accused the Iranian leadership of being "afraid" to admit that talks were taking place.