Lates News

With the recent peace agreement and the prospect of reopening the Strait of Hormuz appearing dim, Brent crude oil prices have risen above $90 per barrel. In early European trading, Brent crude was up 0.1%, priced at $91.04 per barrel; WTI crude futures increased by 0.5%, reaching $84.95 per barrel. Soojin Kim, an analyst at Sumitomo Mitsui Banking Corporation, noted that U.S. President Trump has expressed little interest in extending the expired agreement with Iran, while there remain significant differences between both parties regarding the Strait of Hormuz. Meanwhile, shipping security risks persist. The Houthi forces in Yemen are intensifying their attacks along the countrys Red Sea coastline and are gradually encroaching upon the critical Bab el-Mandeb Strait.