Global oil prices rise to nearly $110 / Spain: Iran issue must be resolved through diplomacy, negotiation

Pars Today – Global oil prices continued their upward trend and, influenced by the halt in U.S.–Iran negotiations and developments related to the Strait of Hormuz, reached close to $110 per barrel, increasing concerns about energy supply constraints.

According to Pars Today, The Times of India reported that global oil markets on Tuesday witnessed a continued rise in prices. This trend has emerged following escalating geopolitical tensions and supply disruptions from West Asia, as well as the closure of the Strait of Hormuz resulting from U.S. and Israeli attacks against Iran.

In the latest trading, Brent crude reached approximately $109.3 per barrel, approaching the $110 mark. Meanwhile, West Texas Intermediate (WTI) crude also recorded nearly a one percent increase, trading at $97.31 per barrel.

Spain: Iran issue must be resolved through diplomacy and negotiation

At the same time, Spain’s Foreign Minister, José Manuel Albares, once again objected to the unilateral war by the United States and the Israeli regime against Iran, calling it the greatest global crisis of the century. He stated that the only way to resolve the conflict is through “diplomacy and negotiation,” adding that there is no military solution regarding Iran.