Oil prices have risen sharply, with Brent crude futures climbing to about $106 per barrel and US West Texas Intermediate reaching approximately $100 per barrel. This increase is attributed to escalating geopolitical tensions, particularly concerning stalled peace talks between the United States and Iran, which have raised concerns about supply disruptions, especially through the Strait of Hormuz, a critical shipping route for global oil. A recent survey indicated that OPEC output fell to its lowest level in over two decades, further tightening supply. Additionally, US crude inventories are expected to decline by about 1.7 million barrels, signaling strong demand amidst reduced supply. Analysts warn that if no peace agreement is reached by the end of May, prices could rise further, potentially pushing Brent crude towards $115 per barrel. The upcoming meeting between US President Donald Trump and Chinese President Xi Jinping could also influence global trade and energy demand, as recent sanctions on Iranian oil shipments to China have already impacted oil flows. Investors are advised to closely monitor these developments, as they will significantly affect oil prices and the broader economy.