The Commodities Feed: Oil bounces on Persian Gulf re-escalation

🌐 Hellenic Shipping News (IR) —

AI Summary

Oil prices surged following the US revocation of an Iran oil sanction waiver amid Iranian attacks on ships in the Strait of Hormuz, including LNG and oil tankers. Brent crude prices increased significantly due to heightened geopolitical risks in the Persian Gulf.

Energy – US revokes temporary sanction waiver for Iran Oil prices spiked following Iranian attacks on three ships in the Strait of Hormuz, including an LNG carrier and an oil tanker. ICE Brent settled a little more than 3% higher yesterday, and in early trading this morning it’s up another 2.8%, leaving it trading above ...

World Security Conflict Politics Markets Commodities Energy Shipping oil prices Sanction waiver Iran Strait of Hormuz LNG carrier oil tanker geopolitical risk Brent crude

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