New US Strikes Spark Oil Rally and Renew Fears Over Peace Talks
Oil prices jumped more than 2% on Tuesday as fresh US strikes in southern Iran dampened hopes for a quick peace deal. Brent crude rose to $98.21 a barrel.
US forces conducted what they called defensive action in Iran, even as Tehran’s negotiators met with Qatari mediators. Secretary of State Marco Rubio said a deal could still “take a few days,” pushing back on expectations of an imminent end to the three‑month conflict.
Asian stock markets were mixed, while the dollar steadied on safe‑haven demand. Gold fell 1% to $4,525 an ounce. Analysts warn that commodity supply disruptions will take months to resolve, and a prolonged war keeps global markets on edge.
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