U.S.-Iran Talks Yield No Results, International Oil Prices Surge Sharply, Breaking $100 Per Barrel Again

en.Wedoany.com Reported - The talks between the United States and Iran concluded on the 12th in Islamabad, the capital of Pakistan, with no agreement reached. The U.S. newspaper The New York Times reported on the 12th, citing two informed Iranian officials, that there are three major sticking points in the U.S.-Iran negotiations: the reopening of the Strait of Hormuz, the issue of uranium enrichment, and the unfreezing of Iran's overseas assets.

Affected by the related situation, during Asian trading hours on the 13th, international oil prices surged sharply, once again breaking through $100 per barrel. As of 6:50 Beijing time, the price of light crude oil futures for May delivery on the NYMEX was quoted at $104.42 per barrel, an increase of 8.13%. The price of Brent crude oil futures for June delivery was quoted at $102.36 per barrel, up 7.52%.

The Strait of Hormuz is the world's most critical energy chokepoint, accounting for approximately one-fifth of global oil and liquefied natural gas trade. A complete blockade of the strait would halt the small remaining volume of shipping still passing through the waterway, thereby further adding pressure to the global oil market.

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