The S&P 500 (SPX) is trading lower on Thursday as disagreements between the U.S. and Iran fuel higher oil prices.
Meet Samuel – Your Personal Investing Prophet
- Start a conversation with TipRanks’ trusted, data-backed investment intelligence
- Ask Samuel about stocks, your portfolio, or the market and get instant, personalized insights in seconds
Brent crude oil (BZ) is up by nearly 2% following a report that Iranian Supreme Leader Ayatollah Mojtaba Khamenei will not allow the country’s stockpile of enriched uranium to be transferred abroad. That could complicate peace talks with the U.S., which has demanded that Tehran ship its enriched uranium out of the country as part of any deal.
Peace Negotiations on Edge as Oil Climbs
On Wednesday, President Trump said the U.S. is in the “final stages” of negotiations with Iran. At the same time, he also said discussions were “on a borderline” between a deal and renewed military attacks against Tehran. “If we don’t get the right answers, it goes very quickly. We’re all ready to go,” he said.
Brent crude has surged nearly 40% since the start of the war on February 28. Experts warn that prices could remain elevated even after a peace deal is reached due to the time it will take for supply to normalize.