Brent Tops $91 as Hormuz Flow Risks Linger
Brent climbed above $91 a barrel and WTI traded above $84 as prospects dimmed for a quick restoration of full Strait of Hormuz flows.
Oil prices extended gains after the biggest jump in two weeks. Brent rose above $91 a barrel following a 2.7% climb in the previous session, while WTI traded above $84.
Supply concerns continued to support the market. Expectations for a fast return to full flows through the Strait of Hormuz faded after the 60-day U.S.-Iran truce lapsed, peace talks stalled, and Washington prepared fresh sanctions on Tehran.
Source: First Squawk