Oil rises amid US-Iran talk uncertainties
Oil prices rose slightly today, Tuesday, after a sharp decline earlier, amid concerns that Middle East supplies remain at risk due to deadlock in talks between the United States and Iran over control of the Strait of Hormuz. Brent crude increased by 0.7%, reaching $84.39 per barrel, after falling 7% in the previous session, while West Texas Intermediate (WTI) climbed to $80.95, having hit its lowest level in a week. This comes amid the U.S. postponement of attacks on Iran until negotiations resume, despite Iran denying any ongoing negotiations. The situation maintains a state of tension and uncertainty, leading to price fluctuations, with estimates indicating that exports through the Strait of Hormuz have increased to 4.2 million barrels per day in early August.
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