Oil climbs to $91.48 amid Iran-US tensions

Oil prices rose to around $91.48 per barrel amid growing concerns over escalating tensions between the United States and Iran. This comes after Iran announced that it would adopt an offensive stance and the U.S. ruled out extending the ceasefire agreement, posing a threat to global energy supply stability. Talks for de-escalation and the movement of oil tankers through the Strait of Hormuz have been halted, while Iran continues negotiations with Oman regarding the management of the strait. Reports indicate that the tensions have led to a decrease in the number of ships crossing the strait and a rise in oil prices due to fears of supply disruptions.

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