Oil rises 1% as Iran tensions deepen
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Brent crude futures rose $0.89, or 1%, to $91.76 a barrel by 0641 GMT Tuesday, while U.S. West Texas Intermediate gained $1.05 to $85.55 as supply concerns increased.
Brent crude futures rose $0.89, or 1%, to $91.76 a barrel by 0641 GMT Tuesday, while U.S. West Texas Intermediate gained $1.05 to $85.55 as supply concerns increased.
Andrew Hollenhorst, chief US economist at Citi, joins Bloomberg's Vonnie Quinn on "Bloomberg Brief" to discuss inflation and its potential to influence market expectations due to recent trends in price and labor data.
Comprehensive cross-platform coverage of the U.S. market close on Bloomberg Television, Bloomberg Radio, and YouTube with David Gura, Isabelle Lee, Norah Mulinda and Tim Stenovec.
Brent crude futures rose 1.64% to $88.50 a barrel on Friday, while West Texas Intermediate crude climbed 1.92% to $82.81 as renewed U.S.-Iran tensions raised supply concerns.
Oil snapped its run of recent gains, as limited progress over a deal to end the Iran war left traders parsing how much oil is crossing the Strait of Hormuz. Francisco Blanch, Head: Commodities & Derivatives Research at Bank of America, discusses the global energy crunch and commodity outlook.
