Oil Prices Rebound Amid Diminishing Ceasefire Hopes

Oil prices experienced a rebound as hopes for a swift end to the conflict in Iran faded, leading to renewed concerns about potential disruptions to global energy supplies. Brent futures rose by $1.65, or 1.61 percent, reaching $103.87 per barrel in early morning trading.

Meanwhile, U.S. West Texas Intermediate gained $1.49, or 1.65 percent, climbing to $91.81 per barrel.

This increase followed a 2 percent slump on Wednesday, which was driven by brief optimism regarding a possible ceasefire. However, that optimism evaporated as Iran reviewed U.S. proposals to end the war, with White House Press Secretary Karolin Leavitt warning that President Donald Trump would intensify actions against Iran if it failed to accept military defeat.

The current situation leaves the market vulnerable to further fluctuations.