Crude Oil Surges to $104 Amid Middle East Tensions, Iran Rejects US Talks

• Crude oil prices surged to $104 per barrel on March 25 due to escalating Middle East tensions.
• Iran refused direct talks with the US, despite reviewing a proposal to end the war, leading to market uncertainty.
• Brent crude rose by 1.21% to $104.01, while US WTI crude increased by 1.35% to $91.54.
• Iran's Foreign Minister Abbas Araghchi denied direct talks, contradicting US President Donald Trump's claims of negotiations.
• The oil rally raises inflation concerns, but TD Securities believes the Federal Reserve will remain in 'wait and watch' mode.