Oil futures rise on continued US-Iran hostilities

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Oil futures increased slightly due to ongoing hostilities between the US and Iran, with Iran aiming to control the Strait of Hormuz. Brent crude rose by 0.9% to $72.20 a barrel, while US crude increased 1.3% to $70.09 a barrel.

Oil futures rose slightly Sunday as US-Iran hostilities continued for a fourth consecutive day and with Iran insisting on control of the Strait of Hormuz. Brent crude, the international benchmark, rose 0.9 percent to $72.20 a barrel, and US crude climbed 1.3 percent, to $70.09 a barrel. On Friday, oil prices reached their lowest levels … The post Oil futures rise on continued US-Iran hostilities appeared first on Egypt Independent.