Oil prices have risen sharply, with Brent crude climbing to $104.50 per barrel and US West Texas Intermediate reaching $98.48 per barrel, following failed diplomatic negotiations between the United States and Iran. The Strait of Hormuz, a vital shipping route for global oil, remains restricted, heightening supply concerns. The US has intensified its military presence, blockading Iranian ports and turning back vessels, which has further escalated tensions. Analysts suggest that the market is reacting to three main factors: the progress of US-Iran diplomacy, the security of shipping routes, and military actions affecting oil transport. Should negotiations succeed, prices may stabilize or decrease; however, ongoing tensions could lead to further increases. Investors are advised to remain vigilant and monitor developments closely, as the market is sensitive to political news and short-term price fluctuations.