Crude oil futures surge as US-Iran peace talks collapse. June Brent crude climbed to $100.38, up 1.26 percent, while WTI rose to $95.35, gaining 1.01 percent on Monday. The breakdown in diplomatic negotiations has eliminated hopes for resumed energy flows through the Strait of Hormuz, tightening global oil markets. With a 13 million barrel daily shortfall and limited alternatives, analysts warn prices must climb higher to trigger demand destruction. The situation intensifies as the US continues enforcing sanctions on Iranian oil shipments, including penalties on Chinese refineries and over 40 shipping vessels in Iran's shadow fleet. Strategic and commercial inventories provide temporary relief, but prolonged disruptions will require significant price increases to balance supply constraints with market demand.
