Brent Crude Rises 2.25% to $105.40 as US-Iran Talks Stall
West Texas Intermediate climbed 1.93% to $93.94 a barrel. Brent settled at $103.08 on Sept. 23 after rising 3.86%.
Brent crude futures rose 2.25% to $105.40 a barrel Thursday as U.S.-Iran diplomacy showed little progress during the United Nations General Assembly, keeping energy-market risks elevated.
The benchmark gained $2.32 at 4:03 a.m. ET (08:03 UTC), while West Texas Intermediate futures climbed $1.78, or 1.93%, to $93.94 a barrel.
The advance followed a 3.86% increase Wednesday, when Brent settled at $103.08. The latest move pushed the benchmark further above $100, a level that matters for fuel costs and broader market inflation concerns.
The United States and Iran remained divided over efforts to end their conflict as Tehran reviewed Washington’s response to peace proposals that included reopening the Strait of Hormuz. The strait is a major energy-shipping route.
President Donald Trump told the General Assembly on Sept. 22, “I will never allow Iran to have a nuclear weapon.” He also urged Iran to return to negotiations and reopen the strait.
The General Assembly’s high-level debate is scheduled to continue through Sept. 26, with an additional session on Sept. 28.
