Oil prices saw a significant increase of over 2% on Friday, driven by market apprehension over the ongoing stalemate in indirect negotiations between Washington and Tehran concerning Iran's nuclear program. This situation has been compounded by heightened US military presence in the region, producing uncertainty that has influenced market dynamics. The Brent crude price was reported at $72.13 per barrel after a rise of $1.38, while American WTI crude rose to $66.61, an increase of $1.40.

The analyst Tamas Varga from PVM commented on the market's reaction, emphasizing that 'uncertainty prevails and fear is pushing prices higher.' The current trajectory of oil prices appears almost entirely dependent on the outcome of these negotiations related to Iran's nuclear ambitions and the potential for military intervention by the United States. While Brent crude is on track for a slight weekly increase of 0.2%, WTI has seen a minor decline of 0.1%.

The latest round of indirect talks took place in Geneva on Thursday, just days after previous discussions failed to yield progress. The persistent deadlock and the possibility of further military actions are keeping investors on edge, fueling speculation about potential intervention by OPEC to stabilize the market. As global oil prices continue to fluctuate amidst geopolitical tensions, the implications of these negotiations extend beyond immediate pricing, affecting broader economic stability and energy security worldwide.