Oil prices rose about 2 percent on 26 June after a cargo ship was struck by an unidentified projectile near Oman, renewing concerns about the security of shipping through the Strait of Hormuz and the pace of recovery in regional oil exports.

Why are oil prices up today, and will Brent, US WTI crude futures continue to rise or fall again? Oil prices gained more than 2% after a cargo ship was struck near Oman, raising…

Brent rebounded to close near US$75 after earlier erasing all of its wartime gains in the session. Read more at straitstimes.com. Read more at straitstimes.com.

Brent crude futures fell $1.47, or 1.95%, to $73.79 a barrel, while US West Texas Intermediate fell $1.44, or 2%, to $70.48 a barrel.