Oil Prices Fall 3% As Ship Passes Through Hormuz, US-Iran Ceasefire Holds
Oil prices fell about 3% on Tuesday with at least one vessel passing through the Strait of Hormuz after the United States said the ceasefire with Iran remained in place despite exchanges of fire between the U.S. and Iran following a U.S. effort to reopen the strait for oil tankers and other ships.Brent futures fell $3.43, or 3.0%, to $111.01 a barrel at 10:29 a.m. EDT (1429 GMT), while U.S. West Texas Intermediate (WTI) crude fell $4.55, or 4.3%, to $101.87. Earlier in the session…
Oil Prices Rise 3%, Iran Remains Undecided About Attending US Peace Talks
Oil prices pared gains on Tuesday after briefly climbing above $100 a barrel following an announcement from U.S. President Donald Trump that he was extending a ceasefire with Iran until Tehran submits a proposal.Brent crude futures were volatile, settling up about 3% on Tuesday and then climbing further to rise more than 5% to a session high of $101.15 after reports that U.S. Vice President JD Vance had called off his trip to Islamabad for peace talks with Iran.Prices later retreated…
Hormuz Strait Reopens After Ceasefire Deal
Iranian Foreign Minister Abbas Araqchi said the Strait of Hormuz was open following the agreement of a ceasefire in Lebanon, while U.S. President Donald Trump said he believed a deal to end the Iran war would come "soon", although the timing remains unclear.Araqchi said in a post on X the Strait was open for all commercial vessels for the remainder of the U.S.-brokered 10-day truce between Israeli forces and Iran-backed Hezbollah agreed on Thursday between Israel and Lebanon.A…
