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Oil Prices Reach Four-Day High Amid US-Iran Tensions

Guavy AI Editorial Team
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Oil
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Oil prices have continued their upward trend for the fourth consecutive day due to concerns about supply and tensions in the Middle East. The price of Brent crude rose by 26 cents, or 0.29%, to $91.28 per barrel, while US West Texas Intermediate crude gained 37 cents to trade at $85.31 per barrel.

The prices are at their highest levels since July 24, despite a temporary ceasefire ending on Monday and the US-Iran diplomatic deadlock showing no signs of resolution. US President Donald Trump said that no negotiations were underway with Iran, contradicting Tehran's claim that the Strait of Hormuz remains closed to shipping.

Iran has shifted to a 'fully offensive' military stance amid the diplomatic deadlock, according to a senior Iranian official quoted by Reuters. However, there have been no reports of new attacks on Tuesday.

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