Brent crude rises nearly 6 percent as soaring tensions in waterway push ceasefire to the brink.

Brent crude rises nearly 6 percent as soaring tensions in waterway push ceasefire to the brink.

Oil prices rose Thursday, as investors continue to assess the latest developments in the Middle East amid concerns over renewed tensions between Iran and the U.S.

Oil prices jumped on Friday after the U.S. and Iran exchanged fire in the Strait of Hormuz, raising fresh fears that the fragile ceasefire between the two countries is rapidly…

The flare-up further endangers the US-Iran ceasefire, which Trump extended indefinitely on 21 April.

Brent crude rises amid clashes in critical waterway.