"As the Iran crisis continues seemingly without end, with negotiations stuck at a stalemate, oil prices have ratcheted higher. Brent crude has been trading above $110 a barrel as warnings of an unprecedented energy shock hit home."
"The sticking points appear to be whether Iran's concessions over ceasing its nuclear programme go far enough for the US, while from Tehran's side it wants the US naval blockade lifted and a new plan for transit through the Strait of Hormuz."
Crude oil prices surged above $110 a barrel as hopes for a breakthrough in Iran negotiations faded, raising concerns about supply disruptions in the Middle East. BP reported a significant profit increase, but cautioned about potential earnings softening in the second quarter due to market volatility. Rising energy costs complicate policymakers' plans for interest rate cuts. Central banks, including the Bank of Japan, are adopting a cautious approach amid persistent inflation risks and fragile economic growth, while investors brace for ongoing market volatility.
Read at London Business News | Londonlovesbusiness.com
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