Oil Prices Rise as Iran Hardens Hormuz Demands

Crude oil prices began this week with a gain following a statement by Iran setting six demands for a peace deal with the United States and claims from the Houthis that they had struck an Aramco refinery in Jazan. At the time of writing, Brent crude was trading at $84.

24 per barrel, with West Texas Intermediate changing hands for $78. 70 per barrel. Both benchmarks are off their spring peaks but still elevated from pre-war times.