(RTTNews) - Oil prices traded higher on Monday amid growing doubts that the U.S. and Iran will soon strike a deal to allow vessels to freely transit the critical Hormuz strait. Brent crude futures were up 1.1 percent at $84.51 a barrel, building on gains of more than 5 percent over the previous three session.
(RTTNews) - Oil prices traded higher on Monday amid growing doubts that the U.S. and Iran will soon strike a deal to allow vessels to freely transit the critical Hormuz strait. Brent crude futures were up 1.1 percent at $84.51 a barrel, building on gains of more than 5 percent ov…
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Explosions were reported along Iran's southern coast near the Strait of Hormuz on Saturday night. The IRGC Navy stated that two oil tankers hit sea mines on an unauthorized route through the strait. Additionally, the US military struck the M/V Huda after it ignored warnings near Iran and attempted to breach a blockade.
Maj. Gen. Turki Al-Maliki, spokesperson for the Coalition to Restore Legitimacy in Yemen, stated on Saturday that a cruise missile and a UAV launched toward the Riyadh region were intercepted and destroyed. Yemen’s Houthis claimed they launched multiple missile and drone attacks against Saudi troops and infrastructure in Saudi Arabia and Yemen.
Iranian media and the Revolutionary Guards Navy reported explosions in several parts of southern Iran, including Qeshm Island, on Saturday evening. These outlets stated that two oil tankers caught fire in the Strait of Hormuz after reportedly hitting mines.
The incidents occurred amid a US blockade of the waterway, which intensified tensions and fears of renewed American strikes.
The US military carried out fresh strikes on Iranian air defenses on Qeshm Island following the targeting of vessels in the Strait of Hormuz. Both sides stated on Saturday that negotiations to end the war are ongoing.