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

• Oil prices climbed above $100 after Iran denied direct negotiations with the US, despite a US ceasefire proposal under review.
• Brent crude futures rose 1.21% to $103.46/barrel; US WTI crude increased 1.35% to $91.54/barrel.
• Iranian Foreign Minister Abbas Araghchi stated indirect exchanges are not negotiations, maintaining Iran's public stance.
• US President Donald Trump previously claimed negotiations were ongoing, creating conflicting narratives.
• Diverging accounts from Washington and Tehran fuel market uncertainty, impacting global oil supply and price volatility.