US strikes in Iran see oil prices rise again amid peace talk fears

Stay up to date with notifications from The IndependentNotifications can be managed in browser preferences.Jump to contentThank you for registeringPlease refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged inAllNewsSportCultureLifestyleDonald Trump lays wreath at Tomb of Unknown Soldier to mark Memorial DayOil prices, specifically Brent crude, rose on Tuesday after US military strikes in southern Iran, reversing a significant 7 per cent drop from the previous day. The earlier fall in crude prices on Monday was attributed to positive developments in peace talks between the US and Iran, which had briefly raised hopes for a resolution. US Central Command confirmed its forces targeted missile launch sites and Iranian boats near the Strait of Hormuz, stating the action was to protect US troops. These military actions have subsequently cast a shadow over the ongoing negotiations, which have a history of appearing close to a breakthrough only to collapse. The closure of the Strait of Hormuz by Tehran has severely disrupted global oil and gas flows, leading to a substantial increase in prices and prompting warnings from the International Energy Agency. In fullOil prices rise after fresh US strikes shatter hopes of imminent Iran peace dealThank you for registeringPlease refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged in

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