Oil settles higher, posts monthly gains of over 23%
Oil prices settled higher on Friday after Iran said it intercepted two tankers attempting to pass through the Strait of Hormuz, reviving concerns over potential disruptions to global energy supplies and helping crude post sharp monthly gains.
Iran also said transit through the strategic waterway is currently not possible due to ongoing US military operations in the region, adding that passage permits will gradually resume once stability is restored.
US President Donald Trump said the prospects for reaching an agreement with Iran remain intact, but acknowledged that his confidence in Tehran has weakened, accusing it of failing to honor its commitments.
|
Benchmark crude futures |
|||||
|
Crude |
Price ($/bbl) |
Change ($) |
Change (%) |
Weekly |
Monthly |
|
Brent (September) |
90.12 |
1.09 |
+1.22% |
(6.88% ) |
+23.58% |
|
WTI (September) |
84.67 |
1.08 |
+1.29% |
(5.19% ) |
+21.82% |
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