Brent rose by more than 6% due to a report of a breakdown in Iran-US talks

Oil prices rose sharply after Iran's state-run Tasnim news agency reported that the Islamic republic is immediately terminating negotiations with the United States due to intensified fighting in Lebanon. In addition, Tasnim reports, Iran has decided to completely close the Strait of Hormuz and activate other routes, including the Bab-El-Mandeb Strait.

The cost of July futures for North American WTI crude oil jumped by almost 7.5%, crossing the $93 per barrel mark. August contracts for the benchmark Mark Brent rose by 6.3% and are trading at about $97 per barrel.

At the opening of trading on June 1, the main U.S. stock indices went into negative territory, the Dow Jones at the time of publication of this text is down the most - by 0.3%.

The news is supplemented.

This article was AI-translated and verified by a human editor