Oil prices rose Thursday after Iran accused the United States of violating elements of a two-week ceasefire agreement, raising concerns that tensions could escalate again and disrupt energy supplies.
International benchmark Brent crude futures for June delivery rose 2.52% to $97.14 while the U.S. West Texas Intermediate crude futures for May added 2.72% to $96.96 per barrel.
The moves come a day after U.S. crude oil posted their biggest single-day drop since 2020.
Mohammad Bagher Ghalibaf, Iran’s parliamentary speaker, said on Wednesday that Washington had breached the terms of the ceasefire deal.
“The deep historical distrust we hold toward the United States stems from its repeated violations of all forms of commitments — a pattern that has regrettably been repeated once again,” Ghalibaf said in a statement posted on social media.
