Summary
Oil prices rose above $100 per barrel after talks between the U.S. and Iran ended without a new agreement. President Trump announced plans to block Iranian ports, contributing to the increase in oil prices.
Key Facts
- Oil prices topped $100 a barrel on Monday.
- Talks between the U.S. and Iran did not result in a new deal.
- President Trump said he would block Iranian ports.
- Brent crude oil prices went up by 8.5% to $102.37 per barrel.
- West Texas Intermediate oil prices increased by 9% to $105.34 per barrel.
- Concerns are growing that the global energy situation may worsen.
- Last Wednesday, oil prices were below $100 after a temporary ceasefire deal was reached.
