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The Economic Times

Business

Oil ticks higher as Iran's refusal to meet US envoys dims ceasefire hopes

United States Oil Iran JD Vance Strait of Hormuz

Oil prices rose in early trade on Wednesday as investors responded to news that Iran will not be meeting with U.S. envoys, a further strain on the interim ceasefire agreed between the two in ‌the four-month-long war.

Brent ⁠futures rose ⁠50 cents or 0.69% to $73.45 a barrel at 1208 GMT, while U.S. West Texas Intermediate (WTI) crude climbed 63 cents, or 0.91%, to $70.13 a barrel.

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