Commodities
US-Iran Stalemate Drives Oil Prices Above $85 for Fourth Straight Day
Oil prices continued their upward trend for the fourth consecutive day as tensions between the US and Iran remained high. The conflict has been ongoing for almost six months, with no signs of a resolution in sight.
The price of West Texas Intermediate (WTI) rose above $85 per barrel after adding 4.5% over the previous three sessions. Brent crude also ended above $91.
US President Donald Trump stated that there were no ongoing talks with Tehran, despite growing pressure from various quarters to resolve the stalemate.