Oil prices climb after Iran warns against US ground invasion

Oil prices climb after Iran warns against US ground invasion

Following Tehran’s latest statement, global oil prices increased on Sunday. Brent crude, the world’s key oil benchmark, saw a 1.7% rise, reaching approximately $107 per barrel. U.S. crude also climbed, gaining 2% to $101. The market reacted to Iran’s threat, which came as President Donald Trump extended negotiations to resolve the conflict.

Iran’s parliament speaker emphasized on Sunday that the nation’s military is “prepared” to counter any U.S. ground forces. This declaration followed Trump’s Friday announcement that talks are ongoing, with the president delaying his ultimatum for Iran to reopen the Strait of Hormuz. The situation remains fluid, with further updates expected.

“Talks are ongoing,” Trump stated, giving Iran more time to address the dispute. His remarks contrasted with Iran’s readiness to act, highlighting the tension between diplomatic efforts and military preparedness.