News Source
EXCERPT:
Oil prices rose on Tuesday morning following a report of an Iranian attack on commercial ships in the strategically vital Strait of Hormuz.
The reported attacks in the waterway, which typically handles around 20% of the world’s oil traffic, reaffirm the fragility of the U.S. and Iran’s interim peace agreement, as they negotiate a permanent end to their war.
International benchmark Brent crude futures with September delivery traded 1.5% higher at $73.09 per barrel, extending earlier gains.
U.S. West Texas Intermediate futures with August delivery advanced 1.5% to $69.56, after closing at its lowest level since Feb. 27 in the previous session.
