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International Business Times
International Business Times
Business

Tankers Were Hit Again In The Strait Of Hormuz. Oil Is Soaring Further.

Strait of Hormuz Donald Trump Iran Oil United States
Oil prices are climbing again on Tuesday after two tankers were hit in the Strait of Hormuz and a report detailing that the Trump administration is considering renewed strikes against Iran. (Credit: Patrick T. Fallon/AFP via Getty Images)

Oil prices are climbing again on Tuesday after two tankers were hit in the Strait of Hormuz and a report detailing that the Trump administration is considering renewed strikes against Iran.

Brent crude, the international benchmark, gained 4.42% and clocked in at $92.28 per barrel at 8:30 a.m., while West Texas Intermediate, the U.S. benchmark, climbed 1.87% and stood at $87.86 at the same time.

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