International oil prices rose more than 2% after negotiations between the United States and Iran stalled. Brent crude gained 2.5% to $106.92 a barrel, while West Texas Intermediate (WTI), the U.S. oil benchmark, climbed 2.3% to $94.49. The gains followed U.S. President Donald Trump’s rejection of Iran’s proposal to end the conflict and reopen the Strait of Hormuz. The United States and Iran are expected to hold additional talks this week. Rising geopolitical risks in the Middle East, including continued attacks on Saudi Arabia by Yemen’s Houthi rebels, are adding to market pressure. Although Middle Eastern oil exports are recovering, supply remains below demand, reinforcing upward pressure on crude prices.