WTI, Brent, Iran accuse U.S. of ceasefire breach
CNBC • • general
Key Points:
- Oil prices rose sharply on Thursday after Iran accused the U.S. of violating a two-week ceasefire agreement, raising fears of renewed tensions that could disrupt energy supplies.
- Brent crude futures increased 2.52% to $97.14 per barrel, while U.S. West Texas Intermediate crude rose 2.72% to $96.96 per barrel.
- Iran's parliamentary speaker, Mohammad Bagher Ghalibaf, cited violations including Israeli strikes in Lebanon, a drone incursion into Iranian airspace, and restrictions on uranium enrichment as breaches of the ceasefire.
- U.S. officials acknowledged the complexity of the ceasefire, with Vice President JD Vance stating that Iran should not be allowed to enrich uranium and clarifying that Lebanon was not part of the agreement.
- Analysts suggest refiners should take advantage of oil prices below $100 to increase buying, but caution that delays could lead to tighter product supplies despite potential de-escalation.
