Brent crude benchmark rose to more than $78 a barrel, its steepest increase since ceasefire began
Oil markets have recorded the sharpest price rise in nearly two months after a series of attacks on fossil fuel tankers near the strait of Hormuz led Donald Trump to declare that the ceasefire deal with Iran was “over”.
Brent, the global crude benchmark rose by 5% on Wednesday to more than $78 (£58) a barrel, the highest price since the US and Iran agreed the ceasefire while negotiating an end to the war last month.
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This article was originally published by The Guardian and written by Jillian Ambrose.
Read original article on The Guardian