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International Business Times
International Business Times
Business

The U.S. Is Maintaining Its Naval Blockade On Iran With No Deal In Sight. Oil Is Rising.

Naval Iran Oil Donald Trump United States Strait of Hormuz
Oil is rising on Monday as a deal to reopen the Strait of Hormuz remains elusive.

Oil is rising on Monday as a deal to reopen the Strait of Hormuz remains elusive, with President Donald Trump signaling continued economic pressure and Tehran renewed demands to reach any deal.

Brent crude, the international benchmark, climbed 1.5% and clocked in at $84.80 a barrel at 8:28 a.m. ET, while West Texas Intermediate, the U.S. benchmark, made similar gains and hovered below $80 a barrel at the same time.

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