Oil prices rise as US-Iran peace talks hit stalemate

Oil prices climbed sharply following the stalled negotiations between the United States and Iran. The impasse centers on the terms of a ceasefire, with both sides refusing to compromise on key issues. The Strait of Hormuz, a vital chokepoint for global oil shipments, remains closed or in limbo, further disrupting supply chains. Tehran insists on maintaining its stance on regional security, while Washington demands concessions on nuclear activities and military presence. The situation has led to increased volatility in energy markets and raised concerns about potential military escalation.