Stocks fall, oil prices rise amid doubts over U.S.-Iran talks

U.S. stocks and bonds sold off and oil prices continued rising Thursday morning, as optimism faded about possible U.S.-Iran peace talks or a ceasefire.

U.S. stocks and bonds sold off and oil continued its weekslong upward trajectory Thursday morning as optimism faded about possible peace talks or a U.S.-Iran ceasefire.

Thursday also marks 48 hours until the expiration of President Donald Trump’s five-day pause on strikes against Iran’s power infrastructure.

In a social media post, Trump appeared to indicate that talks with Tehran were not progressing. “The Iranian negotiators are very different and ‘strange,’” Trump wrote on Truth Social. “They better get serious soon, before it is too late, because once that happens, there is no turning back, and it won’t be pretty!”

The price of U.S. crude oil approached $95 per barrel, up more than 4.2%. International Brent crude rose 4.5%, to more than $107 per barrel. Since the war started, the cost of U.S. crude oil is up more than 40%. Since the start of the year it has risen more than 60%.

Heating oil, a proxy for jet fuel prices, also spiked 6% early Thursday.