Commodities
Oil Prices Surge Amid Hopes for Iran Deal
Oil prices have ticked up despite hopes for a deal that could lead to an end to the war in Iran, with Brent crude rising by 1.4% to $80.45 per barrel.
The news comes as talks between Iran and Oman inch towards a deal to reopen the Strait of Hormuz, a key waterway that has been closed due to tensions in the region.
However, oil prices have fluctuated wildly in recent weeks, swinging between $72 and $102 per barrel as uncertainty about when calm would return to the Middle East kept markets on edge.
The US benchmark crude price also rose by 0.7% to $76.29 per barrel, while shares in Europe and Asia surged following strong corporate earnings reports.