Brent crude oil prices surged by 8% to reach $104 per barrel at market open following the failure of negotiations between the United States and Iran. The talks, which were aimed at resolving key issues, did not result in an agreement, leading to increased market volatility and a sharp rise in oil prices. The breakdown in discussions has heightened concerns over potential disruptions in oil supply, contributing to the significant price increase. Traders are closely monitoring the situation as geopolitical tensions continue to influence the energy markets.