Brent crude prices hover near $90 per barrel, as fallout from Iran war hits travel firm Tui’s profits
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Oil prices are still on the rise, as fresh attacks on ships raise concerns about disruptions to Middle Eastern fuel supplies, adding to doubts over the prospects of a US-Iran peace deal.
Yesterday, the rally in US crude paused for a minute after Pakistan’s Defence Minister said that they were getting “close to some sort of arrangement”, but the relief remained short-lived after Iran added that the Strait of Hormuz would remain closed until the conditions it demands from the US are met.
And the conditions that both parties demand from each other suggest that the problems won’t be solved by tomorrow.
1.30pm BST: US inflation data for July