Oil futures moved higher ahead of Friday's settlement, following a report from BBC News that the Iranian Revolutionary Guard has seized a U.K.-flagged oil...
Oil futures moved higher ahead of Friday's settlement, following a report from BBC News that the Iranian Revolutionary Guard has seized a U.K.-flagged oil tanker in the Gulf of Oman.
Worsening tensions raise the potential for disruptions to oil flow in the Strait of Hormuz. West Texas Intermediate oil prices, which had been trading little changed ahead of the news, saw its August contract CLQ19, +1.03% rise by 65 cents, or 1.2%, to $55.95 a barrel, while September Brent crude BRNU19, +1.32% added 63 cents, or 1%, to $62.56 a barrel.
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