TOKYO — Brent crude oil prices have surged back above $100 per barrel after experiencing a significant decline on Monday. In early Tuesday trading in Asia, Brent crude rose 3.75% to $103.29 per barrel, while West Texas Intermediate (WTI) crude gained 3.22% to $91.55 per barrel.
On Monday, Brent prices had fallen more than 10% after US President Donald Trump announced the postponement of new attacks against Iran. The announcement was interpreted as a sign of easing tensions, with Trump suggesting that a peace agreement could be achievable in the near future.
However, investors are now reassessing the market following Tehran’s denial of any planned negotiations with the United States.
Meanwhile, analysts in the United States have pointed out the influence of sudden geopolitical statements on both stock and oil markets, noting that traders have reacted to the abrupt news regarding the postponement of military actions against Iranian energy facilities.
