JAKARTA - World oil prices rose again on Thursday after Iran accused the United States of violating a number of points in a two-week ceasefire agreement. The accusation triggered market concerns about energy supplies amid the still not completely calm Middle East situation.
Quoted from a CNBC report, Thursday, April 9, Brent crude for June delivery rose 2.52% to US$97.14 per barrel. Meanwhile, US West Texas Intermediate (WTI) crude for May delivery rose 2.72% to US$96.96 per barrel.
The rise comes just a day after U.S. crude prices posted their biggest daily drop since 2020. The move shows the market is still quick to react to any new developments related to the conflict and energy supplies.
The Speaker of the Iranian Parliament Mohammad Bagher Ghalibaf on Wednesday, as reported by CNBC, accused Washington of violating the terms of the ceasefire agreement. In a statement posted on social media, he said Iran's distrust of the US was born out of repeated violations of various commitments.
Ghalibaf said there were three points in Iran's 10-point ceasefire proposal that were considered violated. First, Israel's attacks in Lebanon are still ongoing. Second, a drone was reported to have entered Iranian airspace. Third, Tehran considers Iran's right to enrich uranium to be rejected.
US President Donald Trump on Tuesday said Iran's proposal could be the basis for negotiations. However, Vice President JD Vance on Wednesday said that ceasefires often go complicated. He also confirmed Washington's position remained the same, namely that Iran should not enrich uranium. Regarding Lebanon, Vance said the issue was not included in the agreement.
Rystad Energy analyst Janiv Shah, also from CNBC, said that oil prices, which are currently below US$100 per barrel, can be used by refineries to buy back. However, he warned that new risks could emerge if market participants delayed purchases in the hope that prices would fall again, while physical supply remained tight.
Iran's accusations against the US have also rekindled market concerns that energy supplies could be disrupted if tensions escalate again.
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