Commodities
Home›Commodities›Energy›U.S. oil tops $80 as Strait of Hormuz deal doubts grow
U.S. oil tops $80 as Strait of Hormuz deal doubts grow
Traders weighed mixed signals from Washington and Tehran as they questioned whether a deal to open the Strait of Hormuz will happen soon.
U.S. oil prices rose to around $80 as investors assessed uncertainty around negotiations between Washington and Tehran, with growing doubts about whether a deal to open the Strait of Hormuz will be reached anytime soon, CNBC Markets reports.
CNBC World similarly tied the move to market reaction to mixed signals from the two sides, as traders focused on the prospect that access through the strategic waterway may not improve in the near term.
← Newer storyWhite Mountains receives $222m capital return from Outrigger Re sidec…Older story →Fed likely to stay on hold through 2026 amid sticky inflation risks