Brent Crude Rises 2 Percent on US Military Strikes in Iran
Brent crude futures climbed to $98.12 a barrel on Tuesday after U.S. military strikes in southern Iran increased market uncertainty. While negotiators in Doha continue to discuss a potential memorandum of understanding, the recent military action and Israeli strikes on Hezbollah have tempered expectations for an imminent end to the conflict.
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Brent Crude Oil rose 2.1% to $98.12 a barrel late evening the following day after the United States military conducted strikes in Iran. The price recovery follows a 7% drop in the previous session as peace talks in Qatar hit delays. Continued volatility threatens 20% of global oil and Natural Gas flows currently choked at the Strait of Hormuz.
