Brent Near $110 as US-Iran Talks Stall

Crude oil prices extended their winning streak to a seventh straight session on Tuesday, with Brent crude approaching $110 per barrel as US-Iran nuclear talks showed no signs of a breakthrough. On domestic exchanges, MCX crude oil futures climbed as much as 1% to ₹9,201 per barrel. The seven-day rally reflects sustained buying pressure tied to supply uncertainty. Stalled US-Iran negotiations matter to oil markets because a deal would potentially unlock Iranian crude exports, adding supply and capping prices. With talks stuck, that supply relief stays off the table, giving traders reason to keep buying. Brent near $110 is a level that historically raises concerns about margin pressure for refiners and fuel cost increases for consumers and logistics-heavy businesses. Analysts cited the diplomatic deadlock as the primary driver to watch in the near term, with any fresh signal from talks likely to trigger a sharp price move in either direction.