Brent Crude Posts Sixth Straight Gain as Iran Deal Worries Mount
Brent crude rose 0.3% to $89.10 a barrel and WTI added 0.5% to $83.58, extending gains amid skepticism over a potential U.S.-Iran agreement and hardening stances from both sides.
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Oil benchmarks rose further on Tuesday, with Brent crude climbing 0.3% to $89.10 per barrel, securing its sixth consecutive session of gains. West Texas Intermediate (WTI) advanced 0.5% to $83.58.
Traders remained cautious over the uncertain outlook for a potential U.S.-Iran agreement, particularly concerning the Strait of Hormuz. Despite comments from Pakistan that Washington and Tehran were near a deal, both sides appeared to be hardening their positions.
Source: First Squawk