Iran has firmly rejected claims that it is engaged in negotiations with the United States, directly contradicting President Donald Trump’s announcement that new talks to end the war would commence on Monday.
The denial from Tehran underscores the deep mistrust and communication breakdown between the two capitals, casting doubt on the immediacy of any diplomatic resolution to the ongoing conflict.
While the benchmark had previously stabilized around $72 amid broader geopolitical uncertainty, the latest diplomatic discord prevented a decisive move higher.
Brent crude prices remained volatile in the session, struggling to break above recent resistance levels as traders weighed the conflicting signals.
While the benchmark had previously stabilized around $72 amid broader geopolitical uncertainty, the latest diplomatic discord prevented a decisive move higher.
Markets appear to be pricing in a continued stalemate rather than an imminent de-escalation, keeping risk premiums embedded in energy valuations.
This development follows a period of heightened tension in the region, including Iran’s threats against tankers deviating from Strait of Hormuz routes, which had previously supported oil prices.
The denial of talks suggests that the shipping risks and associated supply concerns may persist for the foreseeable future, rather than being resolved through a sudden diplomatic breakthrough.
The contradiction also comes as European fuel prices continue to rise following the expiration of price caps, adding to the broader macroeconomic pressure on consumers and businesses across the continent.