Oil prices saw an uptick as renewed US-Iran tensions in the Middle East disrupted shipping through the Strait of Hormuz. Despite reports of a potential de-escalation and renewed talks, analysts caution that a full recovery of Gulf oil supply could take months due to lingering issues. Saudi Aramco has resumed loadings, but a recent helicopter crash adds to the complex situation.

Crude oil prices experienced a significant drop, heading for steep weekly losses as tanker traffic through the Strait of Hormuz increased, easing supply worries. This comes after…

Brent jumped as much as 1.9 per cent to US$73.39 a barrel, before paring some gains. Read more at straitstimes.com. Read more at straitstimes.com.