Due to lack of progress in US-Iran negotiations, Brent crude oil prices broke through $100.

Oil prices rise, Brent crude prices break through $100 per barrel, as uncertainty about peaceful negotiations between the US and Iran and escalating tensions in the Hormuz Strait keep the market on edge. In early European trading, the international oil benchmark price rose by 1.3% to $103.26 per barrel, while West Texas Intermediate rose by 1.5% to $94.32 per barrel. Regional mediators are trying to get the diplomatic process back on track, but progress has been minimal so far. Meanwhile, the US continues to block ships related to Iran, and Iran attacked three ships in the strait on Wednesday. Mitsubishi UFJ analyst Soojin Kim said, "Against the backdrop of minimal progress in diplomacy and major unresolved geopolitical issues, the market increasingly expects supply interruptions to be long-term rather than driven by temporary news."