Oil Prices Rise on Fears of Extended U.S.-Iran Conflict and Supply Constraints
Oil prices extended gains as fears of an extended U.S. blockade on Iranian exports and stalled nuclear negotiations increased. Brent crude rose to $120 per barrel, with concerns over supply tightness and limited Iranian exports driving the increase. Goldman Sachs noted that exports through the Strait of Hormuz have fallen to 4% of normal levels.
Tickers: $WTI
Topics: Iran nuclear negotiations oil prices supply tightness U.S. blockade