Crude oil climbs for third straight day as US signals no immediate end to war
“Brent extended gains today to $89.5 a barrel and WTI surged above $83, as prospects for a deal to ease US-Iran tensions continued to fade, with fresh fighting in Lebanon and continued attacks on Hormuz-transiting vessels keeping supply risk elevated. The 60-day US-Iran window for a final settlement expired without a deal, and Treasury Secretary…
“Brent extended gains today to $89.5 a barrel and WTI surged above $83. The 60-day US-Iran window for a final settlement expired without a deal, and Treasury Secretary Bessent’s promised unprecedented sanctions on Iran, anticipated this week, are still pending. While a lull in strikes would swiftly cap gains,” said Kaynat Chainwala, AVP Commodity Research, Kotak Securities.
, with Hormuz, the expired deadline, and looming sanctions all in play, prices look set for continued volatility, an escalation or a sanctions-driven rupture could push crude toward $95.
