Oil edges up as renewed U.S.-Iran strikes stoke Middle East supply concerns
By
Lee Ying Shan
Summary
Oil prices edged higher on Monday after renewed U.S. military strikes on Iranian sites in response to attacks on commercial shipping in the Strait of Hormuz reignited concerns about Middle East crude supplies. West Texas Intermediate rose 0.71% to $69.72 a barrel, while Brent crude climbed 0.36% to $72.25. Talks aimed at ending the U.S.-Iran conflict have reportedly been paused following the escalation.
Source
bskyOil edges up as renewed U.S.-Iran strikes stoke Middle East supply concernscnbc.comKey quotes
· 3 pulledOil edged higher on Monday after renewed military strikes between the U.S. and Iran reignited concerns over crude supplies from the Middle East.
West Texas Intermediate futures edged higher by 0.71% to $69.72 a barrel, falling below $70 on Friday for the first time since Feb. 27 — the day before the start of the Iran war.
Talks aimed at ending the conflict between the U.S. and Iran have reportedly been paused after Washington launched strikes on Iranian military sites in response to Tehran's latest attacks on commercial shipping in the Strait of Hormuz.
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