Global oil prices increased on Thursday after Iran’s foreign minister declared that Tehran currently has no intention of holding talks with the United States. Following his statement, Brent crude rose by 1.6 percent to 103.85 dollars per barrel, while West Texas Intermediate climbed 1.4 percent to 91.61 dollars.

Iranian official Abbas Araghchi told state media on Wednesday that there had been no direct discussions with Washington, though messages were exchanged through intermediaries. In response, U.S. President Donald Trump said Iranian leaders were afraid to admit that talks were taking place.

The development comes amid heightened geopolitical tension, with analysts warning that prolonged conflict could intensify energy instability in Asia if the situation continues.