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The Independent UK
The Independent UK
Business
Stuti Mishra

Oil prices reach $105 as Iran and US tighten grip on Strait of Hormuz

Iran Oil United States Strait of Hormuz Donald Trump Nasdaq China Hong Kong South Korea

Oil prices held above $105 a barrel on Friday as the Strait of Hormuz remained closed, with both the US and Iran seizing ships.

Brent crude climbed 0.63 per cent to $105.73 a barrel, and US West Texas Intermediate advanced 0.32 per cent to $96.17, as the naval standoff keeping the waterway shut showed no sign of resolution.

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