On Thursday, March 26, oil prices rose by more than a dollar per barrel, recovering the losses of the previous session, as the market fears that continued hostilities in the Middle East will lead to further supply disruptions.
It was reported by Ekonomichna Pravda with reference to Reuters.
The report says that futures for Brent crude oil rose by USD 1.65 (1.61%) to USD 103.87 per barrel, and futures for West Texas Intermediate (WTI) rose by USD 1.49 (1.65%) to USD 91.81 per barrel.
Iran is still considering the US proposal to end the war, but does not intend to hold talks to end the conflict in the Middle East, the Iranian Foreign Ministry said.
Meanwhile, White House Press Secretary Karoline Leavitt said that US President Donald Trump will hit Iran harder if Tehran does not recognize that the country was "defeated militarily."
The NLI Research Institute notes that optimism about the ceasefire has disappeared.
This leaves oil prices vulnerable to further volatility depending on the negotiations and military actions of both sides.
The 15-point proposal, sent via Pakistan, calls for the removal of Iran's stockpile of highly enriched uranium, a halt to enrichment, a curb on its ballistic missile program and a cutoff of funding to regional allies, according to three Israeli sources familiar with the plan.
As the Ukrainian News agency earlier reported, oil prices on Wednesday, March 25, fell by about 4% amid prospects of a possible ceasefire, which could ease supply disruptions from the key oil-producing region of the Middle East, following reports that the US has handed Iran a 15-point plan to end the war between them.
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