Oil prices jump as U.S. military strikes on Iran add to peace deal uncertainty
Oil prices have surged following U.S. military strikes in Iran, raising concerns about the ongoing conflict and its impact on shipping in the Strait of Hormuz. U.S. Secretary of State Marco Rubio indicated that negotiations for a peace deal may take longer than anticipated. The situation remains tense, with Iran's actions significantly affecting global oil supply.
- ▪Brent crude oil rose 3.2 percent to $99.18 a barrel after U.S. military strikes in Iran.
- ▪U.S. Secretary of State Marco Rubio stated that a deal with Iran could take a few days to negotiate.
- ▪Tehran has halted nearly all non-Iranian shipping through the Strait of Hormuz since the war began.
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ShareSave for laterPlease log in to bookmark this story.Log InCreate Free AccountBrent crude oil rose 3 per cent on Tuesday after the U.S. military carried out strikes in Iran, adding to uncertainty on whether a deal will be imminently reached to end the war and open up shipping flows through the Strait of Hormuz.U.S. Secretary of State Marco Rubio said on Tuesday that negotiating a deal with Iran could “take a few days,” quashing hopes for an imminent end to the conflict a day after U.S. forces conducted what Washington called defensive strikes in southern Iran.“We are still waiting for more details on a potential deal,” said Giovanni Staunovo at UBS.
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