U.S. oil price hits $80 as doubt grows Washington and Tehran will reach Strait of Hormuz deal

Oil prices climb as doubts Strait of Hormuz will open anytime soon grow

Commodity exchanges saw the oil price climb on fears a deal to end the standoff that has effectively closed the Hormuz Strait could be some time off.

U.S. oil price hits $80 as doubt grows Washington and Tehran will reach Strait of Hormuz deal

Oil rose as traders assess mixed signals from the U.S. and Iran amid worries that a deal to open the Strait of Hormuz may not come anytime soon.