Brent Crude Surpasses $103 Amid Strait of Hormuz Uncertainty
Oil prices rose on Thursday due to uncertainty over the Strait of Hormuz's reopening and persistent security risks in the region.
The international benchmark Brent crude futures for November delivery traded at $103.30 a barrel, up 0.2% from the previous close of $103.08.
US benchmark West Texas Intermediate (WTI) crude futures for November delivery decreased by 0.07% to $92.22 a barrel from $92.15.
Iranian President Masoud Pezeshkian said Tehran remains open to diplomacy, but is not afraid of war in the face of US threats and pressure.