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The Economic Times

Business

Oil rises as doubts over US-Iran deal heighten supply concerns

United States Oil Iran Middle East EIA

Oil prices rose on Wednesday morning as doubts about a U.S.-Iran peace deal and attacks on two ships fuelled concerns about Middle East supply disruptions, even as industry data showed U.S. crude inventories expanded.

Brent futures gained 72 cents, or 0.81%, to $89.63 a barrel by 0053 GMT, while U.S. West Texas Intermediate (WTI) crude climbed 71 cents, or 0.85%, ‌to $83.91.

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