Brent crude futures climbed sharply, breaking through the $80 per barrel threshold as markets digested the collapse of US-Iran peace negotiations.
The breakdown in talks, confirmed by multiple wire services including RAI News and TASS, has effectively ended hopes for a near-term de-escalation in the region.
With diplomatic channels stalled, the immediate focus has shifted back to physical supply risks, particularly the stop-start flow of tankers through the Strait of Hormuz.
The price surge reflects a rapid repricing of geopolitical risk premiums.
Traders are reacting to the renewed uncertainty surrounding one of the world’s most critical energy chokepoints.
Iran’s recent warnings to oil tankers to use approved routes or face forceful response have heightened concerns about potential disruptions to global oil flows.