Commodities
US-Iran Tensions Keep Oil Prices Above $100 Amid Global Supply Concerns
Oil prices continue to trade above $100 a barrel amid concerns that escalating tensions between the US and Iran could disrupt global oil supplies.
The international benchmark Brent crude futures for November delivery were trading at $100.71 a barrel, down 0.5% from the previous close of $101.21.
The Strait of Hormuz, a key global oil chokepoint, handled around 20 million barrels of crude oil and petroleum products a day before Iran announced its closure on August 12, citing US attacks.
US President Donald Trump said Washington was not actively negotiating with Iran and claimed the war would end immediately after the November 3 congressional midterm elections.