West Asia war LIVE: Erdogan urges Trump to pursue talks with Iran, offers support
Oil prices rose today as a deal to end the West Asia war seemed further out of sight, with Iran saying it will adopt a more offensive stance and the U.S. ruling out extending a ceasefire agreement, heightening worries about energy supply.
Iran will shift to a “fully offensive” military posture because efforts to negotiate a permanent end to the war with the U.S. have stalled, a senior Iranian official told Reuters yesterday, as Washington ruled out extending a temporary ceasefire agreement.
Outward progress towards peace talks and a resumption of oil tanker traffic through the strategic Strait of Hormuz has ground to a halt, threatening to extend the conflict that the U.S. and Israel launched with attacks on Iran on February 28.
Brent crude futures climbed 27 cents, or 0.3%, to $91.14 by 0003 GMT, after rising to their highest since July 30 yesterday.
– Reuters
