The Commodities Feed: US-Iran ceasefire breakdown pushes oil higher
AI Summary
The collapse of the US-Iran ceasefire has driven oil prices higher, exemplified by ICE Brent's 5.2% rise to above $78 per barrel amid expectations of further increases. Concurrently, Russia's diesel export ban contributes to energy market volatility and price surges.
Energy – Russia bans diesel exports The oil market has continued to rally as the ceasefire between the US and Iran appears to be on life support. ICE Brent settled 5.2% higher yesterday at a little over $78/bbl, with further upside expected today following additional US strikes against Iran in response to its earlier attacks ...