Oil climbs over 2% as Iran war halts supply
LONDON: Oil prices rose more than 2 percent on Tuesday, reversing some of the previous session’s losses, on worries about supply with the Strait of Hormuz mostly shut and US allies rebuffing calls to send warships to help tankers move through the vital waterway.
Brent futures jumped $2.62, or 2.61 percent, to $102.80 a barrel by 1:04 p.m. Saudi time, while US West Texas Intermediate crude gained $2.51, or 2.51 percent, to $96.01.
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