OIL MARKETS REACT SHARPLY TO ESCALATING MIDDLE EAST TENSIONS
📈 WTI crude is now forecast to hit $94.10 by year-end, up over $21 in a week, according to Kalshi markets.
The jump follows Iran’s cancellation of nuclear talks with the U.S., citing Israeli airstrikes. With tensions rising, markets are pricing in the risk of regional escalation and potential disruption to oil flows through the Strait of Hormuz, a key route for 20% of global oil.
Analysts warn that a full closure of the strait could push prices above $120–$150 per barrel.
https://t.co/LeAxvahQPN
IRAN CANCELS SUNDAY NUCLEAR TALKS WITH U.S.
Iran’s Foreign Minister Abbas Araghchi told EU foreign-policy chief Kaja Kallas that Tehran will not take part in nuclear talks with the U.S. scheduled for Sunday in Oman. According to a person briefed on their Saturday call, Araghchi blamed the U.S. for the current tensions but did not rule out future talks if Israeli attacks cease. Kallas also chairs the U.N.-mandated committee overseeing the 2015 nuclear deal.