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The Economic Times
The Economic Times
Business

Brent climbs to $79.43 as traders weigh durability of US-Iran peace deal

Iran United States Oil Strait Strait of Hormuz

TOKYO: Oil prices edged higher in early trade on Wednesday, clawing back some of the previous session's losses, as investors assessed whether the Iran war will truly end and the Strait of Hormuz reopen.

Brent crude futures gained 47 cents, or 0.6%, to $79.43 a barrel, while U.S. West Texas Intermediate rose to $76.53 a barrel, up 48 cents, or 0.6%, as of 0038 GMT.

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