Oil Prices Rise as Traders Grow Skeptical of U.S.-Iran Deal

Oil prices climbed in early Asian trade on Friday as skepticism grew that U. S. -Iran negotiations would produce a breakthrough, with all the major sticking points still unresolved despite claims of progress. At the time of writing, Brent futures were trading at $104. 80, 2.

13% higher on the day, while WTI futures climbed to $97. 99, up 1. 70%. The price spike comes after both benchmarks fell roughly 2% on Thursday to their lowest levels in nearly two weeks, as traders briefly priced in the possibility of diplomatic progress.