Oil prices climbed Sunday after Tehran warned against a US ground invasion, despite President Donald Trump saying on Friday that negotiations would continue to end the war.
Brent crude, the global benchmark, rose 2.47% to $107.92, while US crude rose 2.94% to $102.57.
Iran’s parliament speaker on Sunday said the country’s forces are “waiting” for American troops. The warning came after Trump on Friday said “talks are ongoing” and extended the deadline for his ultimatum calling on Iran to reopen the Strait of Hormuz.
Yemen’s Iran-backed Houthi rebel group, which launched strikes against Israel on Saturday, poses another threat to oil shipments in the region. The rebels could close the Bab al-Mandab Strait, a chokepoint linking the Red Sea to global shipping lines.
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