Global oil prices surged past the $100 mark despite optimistic statements from Donald Trump about ending the ongoing conflict, as geopolitical tensions in the Middle East continued to fuel uncertainty in energy markets.

On Tuesday evening (Pakistan time), the price of West Texas Intermediate (WTI) in New York rose by $0.25 per barrel within two hours, continuing its upward trend.

According to CNN, Brent crude — the global benchmark — increased by around 1.8% to $101.7 per barrel, while WTI, the US benchmark, climbed 2.8% to $90.6 per barrel.

The rise came after renewed fighting between Israel and Iran, which dampened hopes that the conflict would end soon as it entered its fourth week.

Earlier, Brent had spiked above $114 per barrel after Trump warned of severe consequences if the Strait of Hormuz was not reopened.

Also Read:Iran approves passage of oil tankers heading to Pakistan

However, prices briefly dipped after Trump announced progress toward ending the war, praising “very good and productive talks.”

He also delayed potential strikes on Iranian energy infrastructure by five days, signaling a possible diplomatic breakthrough.

Despite this, Iran denied any direct negotiations with Washington, although mediation efforts by Turkey and Egypt are reportedly ongoing. Pakistan has also offered to host talks.

Also Read: US Urges Caution Amid Unclear Iran Talks

Analysts say oil markets remain highly sensitive to geopolitical developments, with further price swings expected depending on diplomatic progress and conflict intensity.