Iran Shuts Hormuz Again, Lifting Brent to $81 as U.S.-Iran Talks Start Roughly
Updated
Updated · Reuters · Jun 22
Iran Shuts Hormuz Again, Lifting Brent to $81 as U.S.-Iran Talks Start Roughly
3 articles · Updated · Reuters · Jun 22
Summary
Brent crude rose 0.67% to $81.11 a barrel and WTI climbed to $78.62 after ship traffic through the Strait of Hormuz fell sharply on Sunday.
Iran said it had again closed the waterway over alleged U.S. and Israeli violations of the interim peace deal, undercutting hopes the strait would quickly reopen.
Trump threatened fresh attacks even as Vice President JD Vance met Iranian officials in Switzerland for the first talks under the deal, while Tehran accused Washington of failing to halt fighting in Lebanon.
Lebanon remains a key risk after Israeli strikes killed at least 20 people on Saturday, threatening both the ceasefire with Hezbollah and any reopening of Hormuz.
The rebound follows an 8% oil drop last week on expectations of stranded Gulf cargoes being released and possible easing of U.S. sanctions on Iranian crude.