Crude oil prices continue to rise as peace talks between the US and Iran stall and regional conflicts resurface.

Oil prices have risen for the third consecutive day, with investors feeling pessimistic about the prospect of a peace agreement between the United States and Iran, and new conflicts erupting in the Middle East. Brent crude oil prices rose to $97 per barrel; WTI crude oil futures fluctuated around $95, rising over 7% in the first two trading days of the week. Israel continues its attacks on Lebanon, affecting the fragile marathon-style negotiations between Washington and Tehran. Meanwhile, Iran has launched missiles at neighboring countries. Another round of talks between Israel and Lebanon is scheduled for Wednesday. U.S. President Donald Trump said he remains optimistic that the U.S. can quickly reach a temporary peace agreement with Tehran, rejecting reports from Iranian state media that negotiations with Washington have been suspended due to the conflict in Lebanon. Meanwhile, conflicts in the Middle East escalate. Iran has launched ballistic missiles at Kuwait and Bahrain, with some missiles disintegrating or being intercepted in flight, while the U.S. Central Command announced strikes on Geshm Island in a recent post.