Oil climbs as U.S.-Iran trade strikes while Trump says negotiations with Tehran underway
Oil prices have risen amid ongoing discussions between the U.S. and Iran regarding potential negotiations on Iran's nuclear program. Despite conflicting reports about communication between the two nations, President Trump asserted that talks are still active. Analysts have noted significant disruptions in the Middle East's oil and gas sector due to the conflict, impacting exports and production.
- ▪Rubio mentioned the possibility of negotiating aspects of Iran's nuclear program during Senate discussions.
- ▪Trump denied reports of halted communications between the U.S. and Iran, calling them false.
- ▪Fitch Group analysts reported that the U.S.-Iran conflict has severely disrupted the Middle East's oil and gas sector.
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Rubio also told the Senate Foreign Relations Committee that as part of those discussions, "there is the prospect" that Iran "could negotiate aspects of their nuclear program."That was contrary to a report by Iran's Fars news agency on Tuesday that said Tehran and Washington had not exchanged messages for several days. State-linked outlet Tasnim had reported Monday that Iranian negotiators would cease indirect communications with the U.S. and that Tehran would seek to fully shut the Strait of Hormuz, a critical passageway for global crude shipments."Fake News Reports that the Islamic Republic of Iran, and the U.S.A., stopped speaking a few days ago are false and erroneous," Trump said in a Truth Social post on Tuesday afternoon.
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