Oil prices rise after Trump warns 'clock is ticking' on Iran peace talks
Oil prices increased following a warning from US President Donald Trump regarding stalled peace talks with Iran. The global benchmark Brent crude rose by 1.85%, while US-traded oil saw a 2.32% increase. Tensions remain high as Iran's actions have disrupted key shipping routes and led to military considerations by the US.
- ▪Oil prices rose on Monday morning after Trump warned Iran that the 'clock is ticking'.
- ▪Brent crude was up 1.85% at $111.28, while US-traded oil increased by 2.32% to $107.87.
- ▪Iran has closed the Strait of Hormuz in retaliation for US and Israeli strikes, affecting global oil supply.
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Oil prices rise after Trump warns 'clock is ticking' on Iran peace talksJust nowShareSaveAdd as preferred on GoogleHindustan Times via Getty ImagesOil prices rose on Monday morning in Asia after US President Donald Trump warned Iran the "clock is ticking" as talks to bring the war to an end have stalled.The global benchmark Brent crude was 1.85% higher at $111.28 (£83.61), while US-traded oil was up by 2.32% at $107.87.Energy markets have been on a wild ride after Iran effectively closed the key Strait of Hormuz waterway in retaliation for US and Israeli strikes on the country, which started on 28 February.Around a fifth of the world's oil and liquefied natural gas (LNG) usually passes through the narrow shipping route."They better get moving, FAST, or there won't be anything left of…
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