Oil Climbs on Renewed US-Iran Tensions

🇺🇸 Hellenic Shipping News (US) —

AI Summary

WTI crude oil futures climbed above $91 per barrel amid renewed tensions between the US and Iran, triggered by US strikes on Iranian military targets. The hostilities have weakened prospects for a near-term peace agreement that could reopen the strategically vital Strait of Hormuz.

WTI futures climbed above $91 per barrel on Thursday, rebounding from losses in the previous session as renewed hostilities between the US and Iran weakened expectations for a near-term peace agreement that could end the conflict and reopen the Strait of Hormuz. US forces reportedly struck an Iranian military site believed to pose a threat ...

World Security Conflict Politics Markets Commodities Energy WTI crude oil US-Iran tensions Strait of Hormuz oil prices military strike fuel markets

Read original source →