Oil prices are rising as signs of stalled peace negotiations between the US and Iran emerge.

As signs indicate that the US-Iran peace talks may have difficulty continuing to progress steadily, oil prices are rising. Analysts at ANZ Bank's research department said in a research report, "Media reports suggest that Hezbollah will not accept a partial ceasefire agreement with Israel." These analysts pointed out, "Iranian officials have made this issue a condition for reaching a broader peace agreement." The analysts also expressed concerns that "Iranian proxy armed groups may instead disrupt oil supplies in the Red Sea." The analysts added that this would have a "significant impact" on the oil market, as Saudi Arabia has been able to supply around 5 million barrels of oil per day through this route. West Texas Intermediate crude oil futures rose 1.8% in recent months to $95.46 per barrel.