Oil Prices Climb for Fourth Day as Iran Threatens New Energy Chokepoints

Oil prices rose early on Wednesday for the fourth consecutive trading session as the collapsed U. S. -Iran ceasefire precipitated a new crisis in the Strait of Hormuz and Iran threatened to close “all other export corridors that benefit the US and its allies.

” As of early trade in Europe on Wednesday, Brent Crude prices were up by 0. 83%, remaining above the $85 per barrel mark. Meanwhile, the U. S. benchmark, WTI Crude, was up above $80 after climbing 0. 89%.