Oil rises over 1% amid tanker targeting and stalled talks
Oil prices rose by more than a dollar per barrel, with Brent crude reaching $88.52 and West Texas Intermediate at $82.40, following attacks on tankers and increased tensions in the ceasefire talks between the United States and Iran. This reflects growing concerns over oil supplies in the Gulf region, especially through the Strait of Hormuz, where shipping activity has declined due to heightened tensions. Prices are on track to achieve weekly gains of nearly 6% for Brent and 5.4% for WTI, amid fears that the attacks could impact supplies, despite expectations of stable demand and the U.S. crude inventories recording their largest weekly increase in years.
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