Oil closes above $73 as US-Iran tensions escalate
Oil drilling rigs
Oil prices rose at the close of trading today, June 29, after the weekend's tit-for-tat strikes by the US and Iran highlighted the fragility of the interim agreement between the two countries, while cautious hopes for a continued recovery in shipping traffic through the Strait of Hormuz limited the price rise.
Statements regarding the resumption of talks between Washington and Tehran have been conflicting, as US President Donald Trump announced a meeting between representatives of the US and Iran in Doha on Tuesday at the request of Iran.
In contrast, the Iranian Foreign Ministry denied that any talks were scheduled with the US, stressing that a planned visit by a technical delegation to Qatar this week was not related to any meetings with American officials.
|
Brent, WTI Futures Prices |
|||
|
Crude |
Price ($/bbl) |
Change ($) |
Change |
|
Brent (August delivery) |
73.15 |
1.16 |
1.61% |
|
WTI (August delivery) |
70.75 |
1.52 |
2.20% |
*Settlement on June 29.
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