Oil Rises as Iran Threat to Widen War Dims Hormuz Deal Hopes

Oil Rises as Iran Threat to Widen War Dims Hormuz Deal Hopes

Oil rose as signs of tightness across several key market gauges outweighed indications of diplomatic progress toward reopening the critical Strait of Hormuz.

Oil rises as Iran threat to widen war dims hopes of Strait of Hormuz deal - BusinessToday

Brent crude futures rose more than 3% to above $106 a barrel before paring some gains as traders assessed higher oil flows from the region. Brent for November settlement was up 2% at $105.09 a barrel at 8:46 a.m. in New York, while West Texas Intermediate gained 1.7% to $93.71.