Oil Prices Advance as Iran Nuclear Deal Stalls, Tightening Supply Outlook

Oil futures climbed on Monday, resuming an upward trajectory as fresh hurdles in reviving the 2015 Iran nuclear deal stoked supply concerns. The impasse delays the potential return of Iranian crude to global markets, exacerbating tightness at a time of robust demand. West Texas Intermediate for July delivery rose, building on last week's rally, while Brent crude, the international benchmark, also gained. Traders cited a lack of progress in Vienna talks, where negotiators remain divided on sanctions relief and nuclear compliance. Analysts warned that a prolonged standoff could keep a floor under prices, as OPEC+ spare capacity remains limited. The deal would have allowed Iran to ramp up exports, but the uncertainty has kept bullish sentiment intact, with volatile trading expected in the near term.