Oil Prices Rise Fourth Day as US-Iran Peace Talks Stall

Oil prices are up for the fourth day in a row. Why? The US and Iran still can’t agree on peace, and they’re not even talking right now.

Brent crude is trading near $104 a barrel after jumping almost 13% in just three days. US President Trump says the ceasefire stays for now, but he’s waiting on Iran to come up with a new peace plan. Iran says it has no plans to negotiate anytime soon.

Tensions are high. The Strait of Hormuz—a key shipping route—is basically blocked. The US has a naval blockade in place. Iran’s gunboats have fired on commercial ships. Until someone backs down, experts say prices are likely to keep climbing.

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Meanwhile, US oil supplies are shrinking, and exports hit a record high as the world looks to America to make up for Middle East disruptions.

Bottom line: No peace talks = no oil flowing = higher prices.

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