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The Independent UK
The Independent UK
National
Stuti Mishra

Oil prices hold near one-month high amid supply fears

Oil
  • Oil prices held close to a one-month high on Tuesday, with Brent crude at $88.87 a barrel.
  • The US conducted its tenth consecutive night of airstrikes on Iran , despite mediation efforts to secure a 10-day ceasefire.
  • A senior Iranian official told Reuters that Tehran had received a proposal from mediators for a 10-day truce, intended to salvage an interim deal signed in June to end the US-Israeli war on Iran.
  • The US strikes followed a warning from Donald Trump after American soldiers were killed in Jordan, with Iran subsequently attacking Kuwait.
  • Yemen 's Houthi government announced a ban on shipping linked to Saudi Arabia, threatening a key oil pipeline route and exacerbating global supply concerns.

IN FULL

Oil prices remain close to one-month high as Yemen announces Red Sea blockade

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