Oil prices rebounded on Friday after a three-day decline, driven by renewed concerns over Iran's nuclear policy.
Reports indicate that Iran is seeking to retain enriched uranium within the country, a move that could complicate ongoing peace negotiations and heighten geopolitical tensions.
The International Energy Agency has warned that rising travel demand during the summer season could push oil markets into a 'red zone' soon, adding to the pressure on prices.
The International Energy Agency has warned that rising travel demand during the summer season could push oil markets into a 'red zone' soon, adding to the pressure on prices.
This comes as investors closely monitor the evolving situation in the Middle East and its potential impact on global energy supply chains.
The energy market's reaction underscores the sensitivity of oil prices to geopolitical developments.
With the Strait of Hormuz remaining a focal point for shipping and energy security, any escalation in tensions could further disrupt trade flows and drive prices higher.