Oil Prices Rise Above $115 as Iran Talks on Strait of Hormuz Stall
Oil prices climbed above $115 a barrel as negotiations over reopening the Strait of Hormuz remained stalled, with concerns over potential supply disruptions. President Donald Trump plans to extend a blockade of Iranian ports, exacerbating tensions. The West Texas Intermediate (WTI) oil benchmark was trading above $103 a barrel, with U.S. gas prices reaching multi-year highs.
Tickers: $WTI
Topics: energy markets Iran oil prices Strait of Hormuz U.S.-Iran relations