Oil stays near weekly high amid Iran deal doubts
The collapse of hopes for an agreement between the United States and Iran to end the conflict and reopen the Strait of Hormuz has maintained oil prices near their highest levels in over a week. Brent crude reached $87.81 per barrel, while West Texas Intermediate hit $82.20. At the same time, Trump demanded that Iran compensate for damages caused to his country, complicating efforts to reopen the strait and casting further uncertainty on the future of oil supplies. Additionally, threats and attacks on infrastructure, such as the Houthi attacks on the Jazan refinery, are increasing insurance costs and keeping energy flows constrained in the short term.
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