Washington, DC – Oil prices continued their significant gains on Tuesday, buoyed by stalled negotiations and diplomatic efforts between the United States and Iran to reach a peace agreement. Prices were also supported by the prospect of reopening the vital Strait of Hormuz, amid growing concerns about a widening global supply crisis. من الجدير بالذكر أن حركة “Oil” تُعد مؤثرة بشدة في مسار الاقتصاد العالمي.
Brent crude and US crude futures rise
Brent crude futures climbed to a new high of $88 a barrel, while U.S. West Texas Intermediate crude rose to $82.45 a barrel. This is its highest level since August 30. It is worth highlighting the recent movement of Oil in the market. This consecutive rise follows a nearly 5% jump in both benchmarks during Monday’s trading session.
A deadlock and political confrontation between Washington and Tehran
This surge in energy markets came after talks reached an impasse following an exchange of demands and hardline stances. On Monday, US President Donald Trump responded to Iran’s demands by calling for financial compensation. Trump wrote on Truth Social: “I see representatives of Iran demanding compensation for the damages they have suffered during the last five months of military conflict. Very interesting idea, because now I am also demanding compensation from Iran.” Trump also noted that the US Navy had successfully cleared the Strait of Hormuz of mines, asserting that it now controlled the strategic waterway “100%.” Oil remains a central aspect in this confrontation.
In contrast, Iran maintains its position, asserting that the Strait will remain closed until the United States accepts its conditions. These conditions include lifting the naval blockade and removing the crippling sanctions imposed on Iran’s oil industry. Commenting on this situation, Tony Sycamore, a financial analyst at IG, said: “We are now in a three-way confrontation, a battle to see who will back down first. It’s becoming a war of attrition. We’re likely to see the oil market fluctuate between $75 and $95 to see who loses first.”
Further repercussions for energy and financial markets
Alongside the oil crisis, refined product markets also experienced significant volatility, with European diesel futures prices surging by more than 10% on Monday. Oil volatility زاد بشكل ملحوظ بسبب الأحداث الأخيرة. These prices were impacted by panic buying following previous attacks on refineries in Saudi Arabia and Russia. Meanwhile, in global stock and currency markets, the MSCI Asia Pacific ex-Japan index edged up slightly by 0.2%, while South Korea’s Kospi index climbed 0.3%.
Nasdaq futures rose 2.8%, while S&P 500 futures gained 0.1%. In the currency and metals markets, the US dollar edged higher, supported by gains in oil prices. This prevented the euro from reaching a one-and-a-half-month high, while spot gold continued its upward trend, rising half a percent to $4,409 an ounce. Oil price fluctuations تؤثر على مختلف الأدوات المالية حول العالم.
