The collapse of peace talks between the US and Iran has sent global oil prices sharply higher, reports Todayinfo citing Reuters.
On Monday, Brent crude oil rose more than 1% to $107.97 per barrel in Asian trading — the highest level in three weeks. Liquefied natural gas also rose in price: last week in Northeast Asia, the price reached about $16.7 per million British thermal units, nearly 61% above pre-conflict levels.
Goldman Sachs analysts raised their year-end Brent forecast from $80 to $90 per barrel. The key factor is the situation around the Strait of Hormuz. Despite a formal reduction in hostilities in the Middle East, the route remains effectively closed, and oil and gas tankers are barely passing through. This creates supply risks and influences prices.
Meanwhile, US-Iran talks have stalled. The Iranian foreign minister's visit to Pakistan yielded no results. Earlier, the White House had mentioned a possible meeting between Trump's representatives and Araghchi in Islamabad, but no clear consent came from the Iranian side. Against this backdrop, Trump stated that Washington is not ready for negotiations because Tehran is not meeting demands.
