Commodities
Oil Prices Climb Amid Uncertainty Over Hormuz Reopening
Oil prices rose on Monday as uncertainty persisted over the reopening of the Strait of Hormuz, following Iran's statement that the US must meet several conditions before a deal is reached.
Tehran and Oman are in the final stages of agreeing on new shipping lanes, but Iran reiterated that the waterway would only reopen once Washington met other conditions, including US compensation for widespread US attacks on Iran.
Brent crude futures rose 84 cents, or 1 percent, to $84.39 a barrel by 0424 GMT, while US West Texas Intermediate crude futures rose 60 cents, or 0.75 percent to $78.77 a barrel.