Oil prices rose again this morning due to escalating tensions between the US and Iran. Brent increased by 1.36 percent to $101.70 per barrel, while US WTI rose by 1.71 percent to $97.42.
New pressure on prices came after US Treasury Secretary Scott Bessent stated that from Wednesday, Iranian airlines would be practically barred from international operations.
Bessent warned that companies and airports providing fuel, landing services, or ticket sales to Iranian carriers risk exclusion from the dollar financial system. This further intensifies Washington pressure on Tehran, and the market is again incorporating greater geopolitical risk into oil prices.
At the same time, investors are watching for any room for a diplomatic turnaround. Iranian President Masoud Pezeshkian is expected to participate in the United Nations General Assembly in New York, where he will present Iran’s views on international events, focusing on the conflict with the US and Israel. Talks with leaders from several countries have also been announced on the sidelines of the session.
Possible signs of rapprochement between Washington and Tehran could become one of the main drivers of oil prices in the coming days. Confirmation of direct talks could alleviate fears of supply disruptions and push prices down, while new escalation would likely increase the risk premium again.
How sensitive the markets are to changes in sentiment towards the Middle East was already evident yesterday. Oil prices fell below $100 per barrel due to hopes that the US and Iran might renew diplomatic contacts, and investors quickly returned to riskier assets. The Nasdaq Composite jumped 2.3 percent and closed trading at new record levels, the S&P 500 rose 1.5 percent, and the Dow Jones increased by 0.7 percent.
Bitcoin is also rising sharply
The biggest momentum has again come from the technology sector. Meta shares jumped 11 percent, AMD around 10 percent, and Intel 12 percent, amid a return of optimism regarding artificial intelligence and semiconductors. Additional attention is drawn to this week’s meeting between US President Donald Trump and Chinese President Xi Jinping, where trade relations, the extension of the tariff truce, and cooperation in artificial intelligence are expected to be discussed. Leaders from some of the largest technology and financial companies are also expected to participate in the dinner with the Chinese president.
Alongside the rise in technology stocks, Bitcoin has made a strong comeback. The world’s largest cryptocurrency surpassed $86,000 on Monday, reaching its highest level since the end of January. Bitcoin rose nearly six percent during the day and about 34 percent over the last three months, although it remains significantly below the historical record from October last year, when it exceeded $126,000.
