Khaberni - Brent crude futures rose on Tuesday by about 3% to reach $111.48 per barrel, driven by a stalemate in the international efforts aimed at ending the war on Iran, increasing market concerns about the stability of global supplies.
An American official said yesterday, Monday, that President Donald Trump is not satisfied with the latest Iranian proposal to end the war. Iranian sources revealed yesterday that Tehran's proposal avoided addressing its nuclear program until the cessation of hostilities and the settlement of maritime disputes in the Gulf region.
Trump's dissatisfaction with the Iranian offer means that the conflict has reached a deadlock, as Iran shuts down navigation through the Strait of Hormuz, which usually carried about 20 percent of global oil and gas consumption, and the United States continues an embargo related to Iranian ports.
A previous round of negotiations between the United States and Iran collapsed without reaching an agreement.
Ship tracking data revealed significant disruptions in the region, as six Iranian oil tankers were forced to return due to US control.
