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Oil prices rise on uncertainty around a U.S.-Iran Strait deal

Traders weighed mixed signals from Washington and Tehran and increasingly doubt a near term opening of the Strait of Hormuz deal.

Reported · Written up by our desk · Trade & Tariffs

Oil prices rose as traders assessed shifting signals from the United States and Iran, with uncertainty building around prospects for a deal that would open the Strait of Hormuz.

CNBC Markets said market focus was on concerns that such an agreement may not arrive anytime soon, supporting higher prices in the interim.

CNBC World reported a similar theme, tying the move to how investors priced the timeline and likelihood of progress between the two sides.

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