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Iran's Nuclear Stance Sends Oil Prices Surging Above $107

Crude futures climbed Thursday after Iran's supreme leader declared that the country's enriched uranium reserves must remain within its borders. This position threatens to complicate ongoing nuclear negotiations with the United States.

Brent crude advanced nearly 2% to $107 per barrel as traders weighed the geopolitical implications of the directive. The Iranian leadership's refusal to allow uranium shipments abroad signals a potential breakdown in diplomatic efforts, market participants said.

The announcement comes as Washington has paused military operations against Tehran to allow additional negotiating time. Energy markets have grown increasingly sensitive to Middle East tensions, with crude prices reflecting elevated risk premiums tied to potential supply disruptions. Traders are monitoring whether the uranium position will strain U.S.-Iran relations or whether diplomacy can salvage ongoing talks.