Crude scales back gains after reaching $91 a barrel, as Tehran says diplomatic exchanges remain active despite escalating conflict; US gas prices cross $4 mark The post Oil prices ease after Iran says US contacts continue through mediators appeared first on The Times of Israel. Oil prices climbed significantly as United States and Iran conflict intensified. Shipping through the Strait of Hormuz faced increasing pressure and disruptions.
US military actions continued for a ninth consecutive night against Iran. Bahrain and Kuwait reported fresh missile and drone strikes across the region. Escalating tensions kept oil prices on an upward trajectory.
Brent crude, the global benchmark for oil, rose more than 3 percent as trading resumed on Sunday, while S&P 500 futures remained essentially unchanged.
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