Oil prices have increased, driven by rising risk perceptions linked to precarious negotiations between the United States and Iran. Recent data shows that Brent crude futures rose by 98 cents, or 1.4%, reaching $69.78 per barrel, while West Texas Intermediate (WTI) saw a gain of 95 cents, or 1.5%, climbing to $64.91 per barrel. The ongoing tension in the Middle East is a significant factor in maintaining these elevated price levels, even as no disruptions in supply have occurred so far.

Analysts are closely monitoring the situation, with Giovanni Staunovo, a UBS oil analyst, noting that the steady geopolitical tension continues to support prices. Furthermore, the spokesperson for Iran's Foreign Ministry has suggested that the ongoing nuclear talks with the United States are allowing Tehran to assess Washington's seriousness and demonstrate a level of consensus necessary for continued diplomatic dialogue. This development indicates that while negotiations are delicate, there is some path forward.

On the other hand, US President Donald Trump has indicated that he is contemplating the deployment of a second aircraft carrier to the Middle East, a move that could escalate tensions further. Such military posturing raises concerns within the market regarding potential supply disruptions, which would further impact oil prices. Given the interconnected nature of geopolitical events and market responses, the implications of these developments are significant for both oil prices and broader market stability.