Episode Details

Oil prices surged on Friday, building on the previous days gains, as hopes for a swift resolution to the Iranian oil export ban waned. Brent crude futures climbed 0.9% to $84.98 per barrel, while WTI crude rose 0.9% to $81.03 per barrel. The increase was driven by the ongoing stalemate in indirect talks between Iran and the U.S. over the 2015 nuclear deal. Irans hardline stance and the U.S.s negotiating tactics have hindered progress, keeping Iranian oil off the market. Market analysts anticipate further price fluctuations as these diplomatic challenges continue.

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