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Oil prices rise amid Iran Hormuz demands and Houthi Aramco attack claims
Brent was about $84.2 per barrel and WTI about $78.7, as the Strait of Hormuz is expected to remain closed unless U.S. concessions are made.
Crude oil prices climbed at the start of the week as Iran outlined six demands tied to reopening the Strait of Hormuz, while the Houthis claimed an attack on Saudi Aramco infrastructure.
Iran said it would reopen the strait only if the United States meets demands including withdrawal of U.S. forces near Iran, a permanent peace deal, compensation for war damages, and sanction relief, including the release of frozen Iranian assets, OilPrice reported.
The outlet said accepting the terms would likely be difficult for the Trump administration, which would keep the shipping chokepoint closed and help keep energy prices elevated.
Separately, the Houthis claimed they struck Aramco’s 400,000-bpd refinery in Jazan with a drone, a site that had previously been shut down after an earlier Houthi attack, OilPrice reported.
Latest closeWTI crude $78.07 ▲3.8%