Brent crude climbed above $102 per barrel as the outlook for US-Iran nuclear negotiations became more uncertain.

An Iranian senior official told Reuters on Wednesday that Iran will "never abandon" its right to uranium enrichment, and that there are currently "no negotiations" taking place with the United States. The official also stated that the US proposal regarding Iran's nuclear program is "contrary" to Iran's demands. After the news emerged, Brent crude prices quickly rose above $102 per barrel.

On the same day, according to CCTV News, Naghdi, an advisor to the commander of Iran's Islamic Revolutionary Guard Corps, said the Strait of Hormuz has already been closed, and Iran will soon block the "illegal routes" in the strait. This situation will persist until Iran's legitimate demands are fulfilled.

According to CCTV, on the 7th local time, Iranian President Pezeshkian held a phone conversation with Russian President Putin, and both sides emphasized the need to continue strengthening bilateral strategic cooperation between the two countries.

Putin stated that Russia supports the diplomatic efforts made by some countries to ease regional tensions, and emphasized that Russia is also ready to play a role and provide assistance in this regard.

Nuclear Negotiation Stance Hardens as Iran Sets "Red Line"

According to Reuters, the senior Iranian official made clear that US recognition of Iran's uranium enrichment right is Tehran's "red line," and Iran will "never abandon" this right, though the specific details and scale of enrichment can be discussed later.

The official also stressed that Washington must first meet Tehran's preconditions before the nuclear issue can be placed on the agenda. He characterized the relevant proposal recently outlined by US Vice President Vance as America's "ideas and demands" rather than a basis for bilateral consultation.

According to Xinhua News Agency, US Vice President Vance said in a media interview on the 5th that Iran must "substantially" reduce its uranium enrichment capacity to meet US requirements and thereby end the months-long US-Iran conflict.

In an exclusive interview with Reuters, Vance said the US is "open" to reaching an agreement with Iran, provided that Iran takes concrete actions to reduce its existing uranium enrichment capacity, rather than merely promising future reduction plans. He emphasized that the US does not intend to take corresponding action based solely on verbal commitments from Iran.

Vance said the US is negotiating with Iranian President Pezeshkian and Foreign Minister Araghchi. The report said Iran and the US have held negotiations in recent weeks on ending the conflict and reopening the Strait of Hormuz.

Strait of Hormuz Tensions Rise as Shipping Threats Intensify

While nuclear negotiations remain deadlocked, the situation in the Strait of Hormuz has once again become tense.

IRGC commander advisor Naghdi said in an interview with Iran's semi-official Fars News Agency that the "illegal routes" about to be closed refer to the southern channels close to the coast of Oman. He described these "few channels" as having been formed by blasting rock passages and said they are mainly used for smuggling oil and transferring it to tankers.

Another IRGC advisor, Majid Mirahmadi, previously said that currently about 10 ships pass through the Strait of Hormuz daily on average, compared with about 125 per day before the war.

Preliminary data from ship tracking agency Kpler showed that as of September 30, the seven-day moving average of crude oil exports from the region was 18.3 million barrels per day. In September, there were 14 days when export volumes exceeded pre-war levels, covering ship-to-ship transfers through the Strait of Hormuz, the Red Sea, and the Gulf of Oman.

Analysis noted that although September export volumes rebounded somewhat, Iran's continued attacks on tankers and logistical constraints have not been eliminated, leaving questions over whether higher export levels can be sustained.

Iran and Russian Presidents Speak by Phone, Emphasizing Stronger Bilateral Cooperation

According to CCTV News, on the 7th local time, Iranian President Pezeshkian held a phone conversation with Russian President Putin, and both sides emphasized the need to continue strengthening bilateral strategic cooperation between the two countries.

Pezeshkian said relations between the two countries are developing well and it is necessary to continue strengthening bilateral cooperation in various fields. Advancing such cooperation serves the common interests of both countries.

Putin said that despite the current turbulent regional situation, both sides will continue to advance and strengthen cooperation. Russia supports the diplomatic efforts made by some countries to ease regional tensions, and emphasized that Russia is also ready to play a role and provide assistance in this regard.