Oil prices climb as US reportedly hardens stance in Iran peace talks

Oil prices climb as US reportedly hardens stance in Iran peace talks

Oil prices rebounded sharply Monday — WTI +2.5% to $89.60/bbl, Brent +2.2% to $93.16 — after reports that the US sent Iran a tightened MOU draft, reversing the prior week's 11% drop driven by Strait of Hormuz reopening hopes. For tech leaders managing data center energy contracts and cloud cost forecasting, sustained crude volatility above $90 signals continued pressure on energy-intensive infrastructure budgets through Q3.