Oil Prices Rise as U.S.-Iran Peace Hopes Fade

Crude oil prices ticked higher today as hopes for a peace deal between the United States and Iran faded further, after President Trump called Iran’s response to a U. S. peace deal proposal “garbage”. Iran’s response included a list of demands that the U. S. side has previously found unacceptable.

At the time of writing, Brent crude was trading at $104. 86 per barrel, with West Texas Intermediate at $98. 93 per barrel. The ceasefire between Washington and Tehran was “on life support”, the U. S.