Oil Surges on US-Iran Tensions

Oil prices climbed on Thursday as renewed tensions between the United States and Iran raised fears that stalled nuclear negotiations could escalate into conflict, threatening global energy supplies.

Brent crude rose above $70 per barrel, extending gains from Wednesday after the White House signalled that Tehran would be “wise” to reach an agreement with Washington. Meanwhile, US benchmark crude, West Texas Intermediate (WTI), surged to a six-month high.

US President Donald Trump hinted at possible military action against Tehran in posts on Truth Social, while reports indicated an increased US military presence in the Middle East. The developments unsettled investors and pushed oil markets higher.

Matt Britzman, senior equity analyst at Hargreaves Lansdown, said oil extended its rally as fears of confrontation rattled energy markets. He noted that nuclear talks between the two countries appear to be making little progress, bringing geopolitical risks back into focus.

Trade Nation analyst David Morrison added that the deployment of US military assets to the region has further heightened investor anxiety.

Meanwhile, global stock markets showed mixed performance. Asian indices rallied following gains by US technology giants, but markets in Europe and the United States struggled, with investors turning their attention to corporate earnings results.