With the prospect of reaching a peace agreement and reopening the Strait of Hormuz fading, Brent crude oil prices have risen above $90 per barrel. In early European trading, Brent crude climbed 0.1% to $91.04 per barrel, while WTI crude futures rose 0.5% to $84.95 per barrel. Soojin Kim, an analyst at Sumitomo Mitsui Banking Corporation, pointed out that US President Trump said he had little interest in extending the expired agreement with Iran, and significant differences remain between the tw

As the prospects for reaching a peace agreement and reopening the Strait of Hormuz have dimmed recently, Brent crude oil prices have risen above $90 per barrel. In early European trading, Brent crude increased by 0.1% to $91.04 per barrel, while WTI crude oil futures rose by 0.5% to $84.95 per barrel. According to Soojin Kim, an analyst at Sumitomo Mitsui Banking Corporation, US President Trump stated he is not very interested in extending the expired agreement with Iran, and significant differences remain between both sides regarding the Strait of Hormuz. Meanwhile, shipping security risks persist. The Yemeni Houthi forces are intensifying attacks on the country's Red Sea coast and gradually approaching the critical Bab-el-Mandeb Strait.