Oil prices remain close to one-month high as Yemen announces Red Sea blockade
- Oil prices held close to a one-month high on Tuesday despite efforts to broker a truce between the US and Iran as the widening conflict and a new threat to Red Sea shipping kept supply fears alive.
- Brent crude, the international benchmark, slipped 0.4 per cent to $88.87 a barrel, while US West Texas Intermediate held steady at $82.47.
- Both remained near the highs reached the day before, when Brent broke above $90 for the first time in more than a month.
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- Oil prices held close to a one-month high on Tuesday despite efforts to broker a truce between the US and Iran as the widening conflict and a new threat to Red Sea shipping kept supply fears alive.
- Brent crude, the international benchmark, slipped 0.4 per cent to $88.87 a barrel, while US West Texas Intermediate held steady at $82.47.
- Both remained near the highs reached the day before, when Brent broke above $90 for the first time in more than a month.
Sources: The Independent