Against the backdrop of Iran's refusal to negotiate with the United States, oil prices have risen.

Oil prices are sharply rising against the backdrop of the conflict between Iran and the US-Israel. Al Jazeera reports on this.

 

It is noted that futures for Brent crude, the international benchmark, rose by almost 2 percent, exceeding $104 per barrel.

 

This was caused by Iranian Foreign Minister Abbas Araghchi stating in an interview with state television that Tehran is not currently engaged in direct negotiations with the US. 

 

Earlier, after US President Donald Trump announced that the US and Iran had held talks to resolve all and comprehensive conflicts in the Middle East, Brent crude had fallen by 13 percent to $96.

 

At the same time, White House press secretary Caroline Levitt warned Iran that if it does not accept military defeat, it will face an even harsher strike.

 

However, Abbas Araghchi stated that the offer of negotiations to Iran indicates the US's admission of defeat.

 

As a result of the conflict, the Strait of Hormuz has been almost closed, restricting the route that supplies one-fifth of global oil deliveries. Energy prices have risen over 40 percent in recent weeks, with many countries implementing fuel rationing and energy-saving measures.

 

According to maritime intelligence firm Windward, while 120 ships passed through the strait daily before the conflict began, only 4 ships transited on Tuesday. Market observers say prices will continue to rise until the free passage of ships through the strait is ensured.

 

Asian stock markets also opened lower: Japan's Nikkei 225, South Korea's KOSPI, and Hong Kong's Hang Seng index saw losses.