10 Days
Source:
الاقتصادية
Oil Gains Amid U.S.-Iran Ceasefire Uncertainty
Oil prices today rose to around $93 per barrel for Brent and $90 for Texas crude, after reaching their lowest levels since mid-April. This comes amid ongoing uncertainty about the possibility of reaching a peace agreement between the US and Iran that would end the ongoing conflict. Washington and Tehran exchanged messages containing proposals to amend a draft agreement aimed at extending the ceasefire and reopening the Strait of Hormuz, but there is still little clarity on the progress of negotiations. The price increase is partly attributed to market reactions to developments on the ground and political statements, although prices remain more than 25% higher than at the start of the war.
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