Oil rises above $70 as U.S.-Iran military clashes renew Middle East supply concerns
By
Lee Ying Shan
Summary
Oil prices rose above $70 per barrel following renewed military clashes between the U.S. and Iran in the Middle East. A commercial tanker in the Strait of Hormuz was reportedly struck by a projectile, prompting U.S. military retaliation against Iranian targets. Iran's neighbors Kuwait and Bahrain also reported incoming missiles and drones. U.S. officials indicated technical talks would continue and both sides would stand down for now, while President Trump warned Iran of devastating consequences.
Source
bskyOil rises above $70 as U.S.-Iran military clashes renew Middle East supply concernscnbc.comKey quotes
· 3 pulledTechnical talks are slated to continue on all areas of the MOU.
Both sides will stand down for now and vessels can move freely.
United States aircraft ju
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