The military exercises come as tensions are high between the U.S. and Iran.
Oil prices held steady Tuesday as Iran conducted war games in the Strait of Hormuz, a trade chokepoint that is vital for international crude supplies.
U.S. crude
oil rose 53 cents, or 0.84%, to $63.42 per barrel by 8:45 a.m. ET. Global benchmark Brent
was down 29 cents, or 0.42%, to $68.36.
Traffic through the strait was suspended for several hours Tuesday as the Islamic Revolution Guard Corps (IRCG) held naval exercises, according to Iran’s semi-official Tasnim news agency.
Oil prices eased slightly on Tuesday after U.S. guidance for vessels transiting the Strait of Hormuz kept attention on tensions…
Brent crude rises amid clashes in critical waterway.
Crude oil prices surged Sunday, as the U.S. and Iran teetered on the brink of a renewed war after attacks on commercial ships in…
Oil prices rose Thursday, as investors continue to assess the latest developments in the Middle East amid concerns over renewed…
Brent crude rises nearly 6 percent as soaring tensions in waterway push ceasefire to the brink.
While the Strait of Hormuz remained largely closed, keeping global energy supplies tight, oil prices jumped $3 a barrel on Monday.
