A picture taken on March 12, 2017, shows a view of an oil facility in the Khark Island, on the shore of the Gulf.
Atta Kenare | Afp | Getty Images
Brent oil prices jumped more than 3% after Israeli broadcaster N12 reported that Iran’s top negotiator with the United States has resigned.
Brent oil rose nearly 3% to $104.79 per barrel by 2:05 p.m. ET. West Texas Intermediate advanced more than 3% to $95.95 per barrel.
Iran’s parliament speaker Mohammad Bagher Ghalibaf resigned as Tehran’s lead negotiator due to interference from the country’s Revolutionary Guard, according to the N12 report.
CNBC has not confirmed the report, but possible intervention by the Revolutionary Guard raises market concerns that Tehran will take a harder line during negotiations with the U.S.
Meanwhile, oil tanker traffic through the Strait of Hormuz remains very low as the U.S. and Iran try to enforce competing blockades during the ceasefire.
Iran is continuing to demand that ships receive its permission to cross the strait, while President Donald Trump on Thursday claimed that the U.S. has “total control” over the sea lane. Trump said ships need to receive permission from the U.S. Navy to transit the strait.
The U.S. has been enforcing a blockade of Iran’s ports since April 13.
The U.S. and Iran have both seized ships during the ceasefire. Iran detained two cargo ships in the strait on Wednesday, while the U.S. has intercepted several Iranian oil tankers.
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