Oil Prices Soar on US-Iran Deal Uncertainty and Shipping Attacks

Oil prices rose on Wednesday due to uncertainty surrounding a potential deal between the US and Iran, as well as attacks on two ships in the Middle East. The concerns about disruptions to oil supplies contributed to the increase in prices.

According to Reuters, US West Texas Intermediate crude futures for September delivery traded at $83.92 a barrel, up 0.90% from the previous settlement. Brent crude futures for October delivery traded at $89.65 a barrel, up 0.83% from the previous close.