Karachi, Pakistan – Web Desk: Global oil markets came under pressure as rising tensions in the Middle East triggered a sharp increase in crude prices, following reports of potential disruptions in Iran–US diplomatic engagement.
According to Iran’s semi-official Tasnim News Agency, Iran’s negotiating team has reportedly suspended indirect talks with the United States in protest over recent Israeli military actions in Lebanon. The development has fueled uncertainty across global energy markets.
Oil prices recorded significant gains in international trading. Brent crude rose by more than 5%, climbing above $95 per barrel, while US West Texas Intermediate (WTI) also surged, at times nearing $94 per barrel. Brent briefly touched $97 during intraday trading.
Analysts say the volatility reflects growing concerns over supply security amid escalating geopolitical tensions in the region.
The market reaction followed reports of intensified Israeli military operations in Lebanon, which Iran has described as a violation of ceasefire understandings. Israeli Prime Minister Benjamin Netanyahu has ordered strikes on alleged Hezbollah positions in Beirut’s southern suburbs.
Iranian Foreign Minister Abbas Araghchi warned that any breach of agreements on one front would be considered a violation across all related arrangements, holding the United States and Israel responsible for consequences.
Energy markets remain on edge as investors closely monitor developments that could further impact global oil supply and prices.
