{"id":3222,"date":"2026-06-28T23:41:09","date_gmt":"2026-06-28T23:41:09","guid":{"rendered":"https:\/\/reliablemovingcrews.com\/?p=3222"},"modified":"2026-06-28T23:41:09","modified_gmt":"2026-06-28T23:41:09","slug":"oil-climbs-following-renewed-us-iran-strikes-in-middle-east","status":"publish","type":"post","link":"https:\/\/reliablemovingcrews.com\/?p=3222","title":{"rendered":"Oil climbs following renewed US, Iran strikes in Middle East"},"content":{"rendered":"<div>\n<div>\n<div>\n<ul>\n<li>Summary<\/li>\n<li>Companies<\/li>\n<\/ul>\n<\/div>\n<div><\/div>\n<\/div>\n<div>SINGAPORE, June 29 (Reuters) &#8211; Oil prices rose on Monday following days of tit-for-tat \u200cstrikes by the United States and Iran in the Middle East that underscored the fragility of their interim peace deal and again slowed energy shipping in the Strait of Hormuz.<\/div>\n<div>Brent crude futures climbed 52 cents, \u200bor 0.672%, to $72.51 a barrel by 2313 GMT while U.S. West Texas Intermediate crude \u200bwas at $69.94 a barrel, up 71 cents, or 1.03%.<\/div>\n<div>Brent crude fell 10.6% \u2060last week, its third weekly decline, after crude shipments through the strait rose last week to \u200btheir highest level since the U.S.-Israeli conflict with Iran began in February.<\/div>\n<div>However, traffic has since \u200bslowed following renewed attacks on ships in the strait from Thursday, including a Qatar-linked oil tanker, that triggered strikes from the U.S. and Iran in the worst escalation since they signed an interim peace deal.<\/div>\n<div>&#8220;The market \u200bis likely to re-evaluate its assumption of a quick recovery of oil supply from the \u200bPersian Gulf,&#8221; ANZ analysts said in a note.<\/div>\n<div>Capping oil price gains, Iran and the United States agreed to \u200chalt \u2060recent hostilities in the Gulf and renew talks in Qatar regarding their dispute over the Strait of Hormuz, Axios reported on Sunday. Reuters could not immediately confirm the report.<\/div>\n<div>Saudi oil giant Aramco (2222.SE)<svg><\/svg><span>, opens new tab<\/span> resumed crude oil loadings on Friday at its Ras Tanura terminal, west of the Strait of \u200bHormuz, after they were \u200bhalted for nearly four \u2060months, joining a rush to move cargoes after Middle East producers ramped up oil and gas output and exports ahead of the interim \u200bdeal.<\/div>\n<div>&#8220;Despite the U.S.-Iran deal marking an inflection point for oil markets, \u200bphysical flows \u2060are constrained by tanker backlogs, damaged infrastructure and production shut-ins,&#8221; ANZ analysts said.<\/div>\n<div>&#8220;It could take the remainder of the year before supply is near pre-conflict levels.&#8221;<\/div>\n<div>Loadings at Aramco&#8217;s Ras Tanura terminal continued, \u2060even after \u200ba helicopter belonging to the company crashed on Sunday in \u200bRas Tanura on the country&#8217;s east coast on the Gulf, killing 14 nationals. The cause of the crash was \u200bunknown, the state news agency reported.<\/div>\n<\/div>\n<p>Read more <a href=\"https:\/\/reliablemovingcrews.com\/?p=3220\">Argentina wary of \u2018tough\u2019 Cape Verde after cruising through group stage<\/a><\/p>\n<p>Read more <a href=\"https:\/\/reliablemovingcrews.com\/?p=3218\">Canada score late winner to advance to last 16 at World Cup<\/a><\/p>\n<p>Read more <a href=\"https:\/\/reliablemovingcrews.com\/?p=3216\">Russia\u2019s Putin acknowledges fuel shortages, task force set up to ensure supplies<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Brent \u200ccrude \u2060futures climbed to $72.49 a \u200bbarrel.<\/p>\n","protected":false},"author":1,"featured_media":3221,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[21,46,29],"class_list":["post-3222","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-energy","tag-fuel-oil","tag-transport-fuels"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - 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