Crude oil nears $110 again; uncertainty over a peace deal cited as the reason.
Crude oil prices in the international market have surged once more. With tensions in West Asia remaining high and continued uncertainty surrounding a potential peace deal between the United States and Iran, global crude oil prices have climbed again. On Wednesday, the price of Brent crude approached the $110-per-barrel mark. A statement by the U.S. Secretary of State—suggesting that reaching a peace agreement with Iran is highly unlikely—has impacted the market. By Wednesday, the price of Brent crude in the international market had reached $110.15 per barrel.
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