Oil jumps back above $100 after US-Iran peace talks fail

🔑 Key Points:
US Naval Blockade:
The US is stopping ships from entering or leaving Iranian ports. This means Iran’s trade—especially oil exports—is being blocked.
Talks Failed:
The decision came after negotiations (reportedly held in Pakistan) did not reach any agreement.
Iran’s Response:
Iran has warned it may retaliate, possibly with military action, if the blockade continues.
Oil Prices Rising:
Iran is a major oil exporter
Blocking its oil supply is affecting global markets
Oil prices have risen above $100 per barrel
Global Impact:
Higher fuel prices worldwide
Increased inflation
Pressure on global economies
Stock markets reacting negatively