Oil Prices Jump as Iran Talks Stall, Tanker Traffic Slows
Part of composite article Iran Says Strait Closed, But 55 Ships Sailed Through Anyway View full article →
Oil prices rose on Friday after planned talks between the United States and Iran were delayed. At the same time, tanker traffic moving out of the Persian Gulf slowed down. The combination of stalled diplomacy and reduced shipping raised concerns about supply disruptions. Analysts say the market is reacting to uncertainty over Iran's oil exports.