Brent Crude Climbs Above $93 as US-Iran Ceasefire Talks Stall
Updated
Updated · Bloomberg · May 31
Brent Crude Climbs Above $93 as US-Iran Ceasefire Talks Stall
8 articles · Updated · Bloomberg · May 31
Brent crude traded above $93 a barrel in early Asian trading, rebounding after Friday’s close at its lowest level since mid-April.
Stalled negotiations over a permanent US-Iran ceasefire kept Middle East tensions elevated, sustaining concern over regional oil supplies.
S&P 500 futures edged lower as oil rose, while the dollar strengthened slightly against major peers.
The move extends a rebound from a six-week low, after Brent topped $92 earlier as uncertainty persisted over a draft deal that also covered reopening the Strait of Hormuz.
With emergency oil reserves dwindling, what is the world's plan B if the Strait of Hormuz remains closed?
As US-Iran demands clash, what final concession could unlock the world's most critical waterway?
As military strikes defy a fragile ceasefire, is a full-scale war in the Persian Gulf now inevitable?