empty
 
 

12.08.202607:17:41UTC+00Brent Extends Gains on Hormuz Uncertainty

Brent crude rose above $89 per barrel on Wednesday, extending gains for a sixth consecutive session as investors assessed conflicting signals over a possible US-Iran agreement. President Donald Trump asserted that the US had “total control over the Strait of Hormuz,” even as negotiations over the vital waterway remained stalled. His increasingly confrontational tone further clouded the outlook for any near-term deal to fully reopen this key shipping corridor.

At the same time, Pakistan’s defense minister said Washington and Tehran are “close to some sort of arrangement” on the Strait of Hormuz, and reports suggested that talks between Iran and Oman have reached an advanced stage. Separately, industry data showed that US crude inventories climbed by 9.1 million barrels last week, the largest weekly increase since February.

  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $1000 more!
    In August we raffle $1000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS


Can't speak right now?
Ask your question in the chat.
Widget callback