Oil Prices Rise More Than 3% As US-Iran Talks Dent Hopes of Peace

Oil prices surged more than 3% as hopes for a US-Iran deal diminished, raising concerns about the Strait of Hormuz blockade. Trump's comments and Iranian foreign minister's statements further fueled tensions, highlighting the risk to global energy markets. Despite efforts to secure cooperation with China for sanctions relief, the current situation suggests a renewed risk of military escalation.