Oil prices soar to near three-week high as Trump scraps Iran peace talks over lack of progress - Yahoo Finance UK

Oil prices have surged to a near three-week high after US President Trump cancelled planned peace talks with Iran, citing a lack of progress. This development is significant as it may lead to increased tensions between the two nations, potentially disrupting global oil supplies and further driving up prices. The cancellation of talks also implies a harder stance from the US, which could have far-reaching implications for the global energy market and geopolitical relations.