Oil climbs as Iran states reopening terms
Oil prices surged significantly after Iran announced its conditions for opening the Strait of Hormuz, with Brent crude jumping to $84.58 per barrel and U.S. crude rising to $79.28, amid tensions related to the situation in the Middle East. An Iranian official emphasized that Iran will only open the strait after the United States changes its behavior, including ending threats, withdrawing American forces, paying compensation for damages, lifting sanctions, and releasing frozen funds, all while Iran maintains its stance of not backing down.
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