Oil prices rose by approximately 2% on Tuesday as efforts to end the war between the United States and Iran stalled. The vital Strait of Hormuz remains almost completely closed, preventing global buyers from accessing energy supplies from key production regions in the Middle East.
اضافة اعلان
Diplomatic Stagnation
A U.S. official stated on Monday that President Donald Trump is dissatisfied with Tehran's latest proposal to end the conflict. Iranian sources revealed that the proposal avoided addressing the nuclear program, deferring the issue until hostilities cease and maritime disputes in the Gulf are settled.
This dissatisfaction signals a strategic deadlock:
Iran continues to block navigation through the Strait of Hormuz, which typically handles about 20% of global oil and gas consumption.
The United States persists with its blockade of Iranian ports.
Market Performance
Brent Crude: June futures rose by $2.32 (2.1%) to $110.55 per barrel by 06:38 GMT. This marks the seventh consecutive day of gains, following a 2.8% increase in the previous session—its highest settlement since April 7.
West Texas Intermediate (WTI): June futures climbed $1.80 (1.9%) to $98.17, following a 2.1% rise in the previous session.
Expert Analysis and Logistics
Priyanka Sachdeva, an analyst at Phillip Nova, noted:
"Talks of 'peace' appear largely superficial and lack concrete evidence of de-escalation. Despite the rhetoric, vessel movement through the Strait of Hormuz remains limited. The prolonged nature of these disruptions is why oil risk premiums remain elevated."
Ship-tracking data confirms significant regional disruptions, with six Iranian tankers forced to retreat due to U.S. maritime control. However, data from Monday showed an ADNOC (Abu Dhabi National Oil Company) LNG tanker successfully transiting the Strait, appearing to be near India.
Context of the Conflict
Before the outbreak of the U.S.-Israeli war against Iran on February 28, daily traffic through the Strait ranged between 125 and 140 vessels.
Source: Reuters
