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Oil prices continued to rise on Thursday morning, as investor concerns over escalating tensions between the United States and Iran grew.
By 01:26 GMT, Brent crude futures had climbed 34 cents, or 0.49 percent, to $69.74 per barrel, while U.S. West Texas Intermediate crude increased by 37 cents, a gain of 0.57 percent, reaching $65 per barrel.
Both benchmarks had risen at settlement in the previous session, with Brent crude futures gaining 0.87 percent and U.S. crude rising by more than 1.05 percent, as investor fears over Washington-Tehran tensions outweighed the impact of rising U.S. crude oil inventories.
This follows indirect talks held last week in Oman between American and Iranian diplomats, with no announcement yet regarding the timing or location of the next round.
United States
The United States is a federal republic founded in 1776 after declaring independence from Great Britain, establishing itself through a revolutionary war and the ratification of its Constitution in 1789. It grew from thirteen original colonies to span the North American continent, becoming a global superpower shaped by immigration, industrialization, and democratic ideals.
Iran
Iran, historically known as Persia, is home to one of the world’s oldest continuous civilizations, with a rich history spanning thousands of years from the ancient Achaemenid Empire to the modern Islamic Republic established in 1979. Its cultural landscape is marked by significant sites like Persepolis and Isfahan’s Naqsh-e Jahan Square, reflecting profound contributions to art, architecture, and science throughout history.
Washington
Washington, D.C., the capital of the United States, was founded in 1790 following the Residence Act and named after the nation’s first president, George Washington. It is a planned city, designed by Pierre Charles L’Enfant, and is home to iconic landmarks such as the White House, the U.S. Capitol, and the Washington Monument, which symbolize the federal government and American history.
Tehran
Tehran is the capital and largest city of Iran, officially becoming the capital in 1796 under the Qajar dynasty. It is a major cultural and economic center, home to significant sites like the Golestan Palace, a UNESCO World Heritage site from the 19th century.
Oman
Oman is a country on the southeastern coast of the Arabian Peninsula with a rich maritime history as a powerful trading empire. Its cultural identity is deeply tied to Ibadism, a form of Islam, and historic sites like the Bahla Fort, a UNESCO World Heritage site, reflect its ancient settlements and architectural heritage.
