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International Business Times
International Business Times
Business

Three New Vessels Were Hit In The Strait of Hormuz. Oil Prices Are Climbing Again.

Oil Abbas Araghchi Donald Trump Masoud Pezeshkian Strait of Hormuz Iran United States Axios
Oil prices are climbing again on Wednesday following reports of renewed attacks in the Strait of Hormuz. (Credit: Getty Images)

Oil prices are climbing again on Wednesday following reports of renewed attacks in the Strait of Hormuz and decreased prospects of a ceasefire between the U.S. and Iran.

Brent crude, the international benchmark, climbed 1.31% and clocked in at $97.82 at 8:17 a.m. ET, while West Texas Intermediate, the U.S. benchmark, gained 1.53% and stood at $90.75 at the same time.

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