Oil rises as uncertainty continues over reopening of Strait

Oil prices rose as uncertainty persisted around the Strait of Hormuz reopening. Iran said a deal with Oman on new shipping lanes is in its final stages, but the U.S. must still meet additional conditions, keeping supply disruption risk elevated and supporting prices.

Analysis

Oil prices rose as uncertainty persisted around the Strait of Hormuz reopening. Iran said a deal with Oman on new shipping lanes is in its final stages, but the U.S. must still meet additional conditions, keeping supply disruption risk elevated and supporting prices.