Postponement of US-Iran negotiations sparks fears of prolonged supply disruptions, lifting oil prices in early Asian trade.
Brent crude rose above $80 per barrel in early Asian trading Friday after Switzerland confirmed the postponement of US-Iran peace talks. West Texas Intermediate climbed to $76.28 amid uncertainty over the negotiations’ outcome.
The delay follows earlier reports that Vice President J.D. Vance was scheduled to attend the talks. No new date or reason for the postponement was provided, adding to market speculation about potential supply risks.
Oil prices had dipped earlier in the week on hopes of eased tensions, but the latest development reversed those gains as traders reassessed geopolitical risks.