Oil Surges Past $100 as Iran Rejects US Talks, Ceasefire Hopes Dim

• Oil prices climbed above $100 after Iran denied direct negotiations with the US, despite a US-backed ceasefire proposal.
• Brent crude rose 1.21% to $103.46 per barrel, and WTI gained 1.35% to $91.54 per barrel.
• Iranian Foreign Minister Abbas Araghchi stated that communications through intermediaries are not direct negotiations.
• Tehran is reportedly likely to reject the US-backed ceasefire proposal, outlining its own conditions.
• Conflicting statements from Iran and US President Donald Trump fuel market uncertainty and oil price volatility.