ConfirmedShipping, energy & marketsBackgroundNew York, United States
US crude tops $100 a barrel and Brent passes $111 as US-Iran talks stall
- Mountain Time
- Local time
- 8:39 AM in New York
- Where
- New York, United States
West Texas Intermediate rose about 5% to $101.10 a barrel and Brent traded at $112.30 on Tuesday morning as talks to reopen Hormuz stalled; Brent for June delivery later stood 2.7% higher at $111.18. AAA said average US gasoline hit $4.18 a gallon, the highest since 2022.
Why it matters
Prices climbed back toward the $119 wartime peak once hopes of a quick deal faded.
Sources (3)
- CBS Newscbsnews.comPublished
- Associated Pressapnews.comPublished
- CBS News (2)cbsnews.comPublished
Confidence: Corroborated by independent sources or direct evidence. About confidence labels