[International Oil Prices] Near $100 a Barrel as Ceasefire Talks Stall

[Financial News]  \r\n
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International oil prices came close to $100 a barrel on the 21st local time. The rise came as concerns grew that the Strait of Hormuz could remain blocked after ceasefire talks between the United States and Iran hit a snag.
If the talks collapse, a return to $100 oil would be inevitable.
According to CNBC, June Brent crude oil futures, the global benchmark, closed at $98.48 a barrel, up $3.00, or 3.14%, from the previous session.
May WTI, the U.S. benchmark, also ended the session at $92.13 a barrel, up $2.52, or 2.81%.
Both benchmarks had already jumped 5.0% and 6.87%, respectively, the previous day.
Prices surged after it was confirmed that U.S. Vice President JD Vance, who is in charge of the ceasefire talks, had not left for Pakistan, the venue for the negotiations.
A U.S. government official told The New York Times (NYT) that Iran rejected Washington's terms, prompting Vance to delay his departure.
The official added, however, that the talks had not been canceled and that departure could still happen at any time.
Senior Iranian officials have not issued an official position on whether they will attend the talks. Mohammad Bagher Ghalibaf, the speaker of Iran's parliament and the country's chief negotiator, also wrote on social media on the 20th that Iran would "not engage in negotiations under the shadow of threats."
According to Al Jazeera, Iranian Foreign Minister Abbas Araghchi strongly criticized the U.S. blockade of ports on the 21st. Araghchi said the U.S. Navy's attacks on merchant ships passing through Iranian ports and the detention of their crews violated the ceasefire agreement and amounted to a "war act."
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dympna@fnnews.com Song Kyung-jae Reporter