{
  "id": 115085,
  "title": "Crude oil futures rise as US-Iran talks remain uncertain",
  "url": "https://urgent.news/2026/08/04/crude-oil-futures-rise-as-us-iran-talks-remain-uncertain",
  "topic": "world",
  "section": "World",
  "published": "2026-08-04T04:40:04.000Z",
  "source": {
    "name": "Hindu BusinessLine",
    "slug": "hindu-businessline",
    "url": "https://www.thehindubusinessline.com/markets/commodities/crude-oil-futures-rise-as-us-iran-talks-remain-uncertain/article71303891.ece"
  },
  "original_language": "en",
  "account": "Crude oil futures experienced an upward trend on Tuesday morning, fueled by lingering uncertainty surrounding the proposed US-Iran talks. At 10:02 am, Brent oil futures reached $84.87, marking a 1.31% increase, while September crude oil futures on WTI (West Texas Intermediate) climbed to $81.11, up by 0.96%. August crude oil futures on the Multi Commodity Exchange (MCX) opened at ₹7733, a 1.15% rise from their previous close of ₹7645. September futures on MCX stood at ₹7545, up 1.13% from their prior level of ₹7461.\n\nDonald Trump, via his Truth Social platform, expressed skepticism about the talks, asserting that Iran's leadership was \"unbelievably duplicitous,\" stating that the country had openly denied any discussions and claimed control over the Strait of Hormuz. Trump further warned that unless a deal or total surrender was achieved, Iran would not be able to pass any goods through the strategic waterway.\n\nIran's foreign ministry spokesperson, Esmaeil Baqaei, denied Iran's involvement in negotiations with the US, dismissing Trump's claims of planned peace talks. The commodities market remains volatile, with analysts expressing concern over the potential for a renewed escalation in the region.\n\nIn other news, Black Sea port operations have resumed, with loading activity increased at the CPC terminal, which handles oil shipments from Russia. However, ongoing Ukrainian attacks on Russian energy infrastructure have cast shadows of doubt on the stability of these shipping routes. Copper futures on MCX opened at ₹1357.40, a 0.75% increase from their prior close of ₹1347.25. On the National Commodities and Derivatives Exchange (NCDEX), August turmeric contracts traded at ₹22470, up 0.35% from the previous close of ₹22393, while August guar gum futures closed at ₹11695, down 0.60% from their prior level of ₹11766.",
  "summary": "Crude oil futures rose on Monday. October Brent oil futures were at $84.87, up by 1.31%, and September crude oil futures on WTI were at $81.11, up by 0.96%.\n\nUS President Donald Trump said on Monday that negotiations with Iran were ongoing, describing the talks as Tehran's final opportunity to strike an agreement that could reopen the Strait of Hormuz and address Washington's concerns over Iran's nuclear programme. According to Trump, the first phase of any potential agreement would be the opening of the straits, and the second phase would be the denuclearization.\n\nHowever, Iranian officials denied participating in direct talks with the US, saying that they are negotiating with mediators in Oman. The uncertainty surrounding US-Iran talks is boosting safe-haven currencies such as the US Dollar.",
  "key_points": [
    "Crude oil futures rise 1.31% to $84.87, amid US-Iran talks uncertainty",
    "Trump doubts Iran's involvement in talks, warns Iran may block Strait of Hormuz",
    "Iran denies talks, Black Sea port operations resume amid geopolitical concerns"
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "FXStreet",
        "title": "New Zealand Dollar softens below 0.5900 on US-Iran talks uncertainty, stronger US PMI data",
        "url": "https://urgent.news/2026/08/04/new-zealand-dollar-softens-below-0-5900-on-us-iran-talks-uncertainty",
        "published": "2026-08-04T02:09:10.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}