Oil prices rise as US-Iran strikes renew Strait of Hormuz shipping concerns
By
John Power
3h ago· 3 min readenNews
Summary
Oil prices edged up about 0.9% on Monday as renewed tit-for-tat strikes between the US and Iran raised fresh doubts about the reopening of the Strait of Hormuz to normal shipping. Brent crude futures for August delivery reached $73.21 a barrel, reflecting market uncertainty following the escalation of hostilities that began with the US and Israeli war on Iran on February 28.
Source
bskyOil prices rise as US-Iran strikes renew Strait of Hormuz shipping concernsaljazeera.comKey quotes
· 3 pulledBrent crude, the primary international benchmark, rose about 0.9 percent on Monday after tit-for-tat US and Iranian strikes over the weekend renewed doubts about a return to normal shipping in the Strait of Hormuz.
Brent futures for August delivery stood at $73.21 a barrel as of 03:30 GMT, 127 cents higher than the day before the US and Israel launched their war on Iran on February 28.
"Brent's partial rebound this morning reflects a market that ha
Brent crude edges up as tit-for-tat strikes imperial return to normality in key waterway.
You might also wanna read
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
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
Comments
Sign in to join the conversation.
No comments yet. Be the first.