Iran News Updates

The conflict looks set to drag on, possibly for months, with the sides unable to achieve a lasting ceasefire deal, according to officials from the U.S., Iran and Europe.

Brent crude, the international standard, fell 4.6% to $81.94 a barrel. It was trading around $72 per barrel before the Iran war began in late February.

The price of a barrel of Brent crude, the international standard, dropped 6.2% to $86.01.

After shooting to $102 per barrel a day earlier, Brent crude, the international standard, was down 5.1% to $95.55.

Days after the Houthis declared a blockade of Saudi Arabia, Western shipowners appear to be making plans to avoid Bab el-Mandeb strait or to sail through it with their transponders turned off.

U.S. crude is drawing overseas interest from Asian and European refiners. Global interest for seaborne U.S. crude is likely to remain robust, especially from Asia.

Companies that produce and sell fresh food, school supplies and anything that gets shipped using fuel reported cost impacts from an earlier spike in energy prices after the U.S. and Israel attacked Iran.

The Bloomberg Agriculture Spot Index, which tracks 10 major crop products, reached the highest since July 2023 on July 22, advancing for a seventh week.

The price of a barrel of Brent crude oil, the international standard, was up 7.2% to $100.88, its highest level since early June.

More climbs for oil prices have come after the continued attacks between the U.S. and Iran. Brent crude, the international standard, rose 3.3% to $94 a barrel.