Key events23m agoIntroduction: Oil prices climb as Iran talks hit impasseIntroduction: Oil prices climb as Iran talks hit impasseGood morning, and welcome to our rolling coverage of business, the financial markets and the world economy.Oil prices are still on the rise, as fresh attacks on ships raise concerns about disruptions to Middle Eastern fuel supplies, adding to doubts over the prospects of a US-Iran peace deal.The US and Yemen’s Iran-aligned Houthis have said they endured separate attacks on ships in the strait of Hormuz and the Bab al-Mandeb strait on Tuesday, while Iran’s top security official, Mohsen Rezaei, said the strait would stay closed unless the US accepted Iran’s conditions to end the war, including the release of its frozen assets and an end to other regional conflicts.Ipek Ozkardeskaya, a senior analyst at Swissquote says:
double quotation markYesterday, the rally in US crude paused for a minute after Pakistan’s Defence Minister said that they were getting “close to some sort of arrangement”, but the relief remained short-lived after Iran added that the Strait of Hormuz would remain closed until the conditions it demands from the US are met.
And the conditions that both parties demand from each other suggest that the problems won’t be solved by tomorrow.
