Commodities
WTI Hits Three-Week High as Iran Deadlock Supports Oil Price
WTI US Oil has reached a three-week high of $87.38 on Thursday, supported by ongoing concerns over global supply disruptions.
The price surge comes as US President Donald Trump threatens severe economic consequences for countries providing support to Iran.
Qatar sees the recent agreement between Iran and Oman as a preliminary step towards renewed negotiations with Washington.
The closure of the Strait of Hormuz and Bab el-Mandeb Strait, which account for around 27% of global energy supply, continues to fuel fears of a rapid normalization in supply.