First reported by Mailchimp
OPEC+ Approves Further Oil Output Increase
Oil prices climb 1.5% after reported Iranian attack on commercial ships in Strait of Hormuz
By
Sam Meredith
2h ago· 3 min readenNews
Summary
Oil prices rose after reports of an Iranian attack on commercial ships in the Strait of Hormuz, a critical waterway handling about 20% of global oil traffic. Brent crude futures rose 1.5% to $73.09/barrel and U.S. West Texas Intermediate rose 1.5% to $69.56. The incident highlights the fragility of the interim U.S.-Iran peace agreement as negotiations for a permanent end to their war continue.
Source
bskyOil prices climb 1.5% after reported Iranian attack on commercial ships in Strait of Hormuzcnbc.comKey quotes
· 3 pulledOil prices rose on Tuesday morning following a report of an Iranian attack on commercial ships in the strategically vital Strait of Hormuz.
The reported attacks in the waterway, which typically handles around 20% of the world's oil traffic, reaffirm the fragility of the U.S. and Iran's interim peace agreement, as they negotiate a permanent end to their war.
International benchmark Brent crude futures with September delivery traded 1.5% higher at $73.09 per barrel, extending earlier gains.
Brent and U.S. crude futures rose after a report of an Iranian attack on commercial ships in the Strait of Hormuz.
You might also wanna read
Oil price today: Crude benchmarks inch higher as focus shifts to supply, demand and Hormuz shipments
timesofindia.indiatimes.com·9h ago
Oil prices surge above $100 despite IEA reserve release amid Gulf tensions
Oil prices surged above $100 per barrel despite the International Energy Agency's announcement to release record amounts of oil reserves. Th
bbc.com·3mo ago
Brent crude oil surges past $116 as Iran conflict, UAE OPEC exit, and US inventory declines drive prices
Brent crude oil futures surged over 7% to nearly $120 per barrel, the highest level since June 2022, driven by the ongoing Iran conflict, th
tradingeconomics.com·2mo ago
Extend energy measures?
Ara·3d ago
Comments
Sign in to join the conversation.
No comments yet. Be the first.