Oil prices continued to rise Tuesday as peace talks between the United States and Iran appeared to be at an impasse, with negotiators deadlocked over proposals to reopen the Strait of Hormuz to tanker traffic and restrict Iran’s nuclear program.
The price of crude oil has risen steadily over the past week as talks stalled due to an uneasy ceasefire. Brent crude, the international benchmark, has posted gains in six of the last seven trading sessions: it remains more than 40% higher than before the first US-Israeli strikes against Iran in late February.
Stock markets, however, are trading at record highs as corporate profits have largely held up. A series of financial reports expected this week from the biggest technology companies, which are spending hundreds of billions of dollars on artificial intelligence systems, will be closely watched.
