Oil prices rise as Trump threatens renewed strikes on Iran, straining fragile peace talks
By
Lee Ying Shan
Summary
Oil prices rose after President Trump threatened renewed military strikes against Iran, casting doubt on a fragile interim peace agreement reached last week. The threat came as Vice President JD Vance met Iranian officials in Switzerland for talks, which were further overshadowed by Tehran's announcement that it had closed the Strait of Hormuz, a critical chokepoint for global oil shipments. Brent crude futures rose 1.23% to $81.56 a barrel.
Source
bskyOil prices rise as Trump threatens renewed strikes on Iran, straining fragile peace talkscnbc.comKey quotes
· 3 pulledOil prices climbed Monday after U.S. President Donald Trump threatened renewed military action against Iran, raising concerns about the durability of a fragile interim peace agreement reached last week.
International benchmark Brent crude futures for August jumped 1.23% to $81.56 a barrel.
The meeting was overshadowed by Tehran's announcement that it had once again closed the Strait of Hormuz, a key route for global oil shipments.
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