Oil climbs following renewed US, Iran strikes in Middle East

SINGAPORE, June 29 (Reuters) - Oil prices rose on Monday following days of tit-for-tat strikes 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.

Brent crude futures climbed 52 cents, or 0.672%, to $72.51 a barrel by ​2313 GMT while U.S. West Texas Intermediate crude was at $69.94 a barrel, up 71 cents, or 1.03%.

What caused oil prices to rise on Monday?

What impact did the interim peace deal have on oil supply?

How did U.S.-Iran strikes affect Strait of Hormuz shipping?

When might oil supply return to pre-conflict levels?

Brent crude fell 10.6% last week, its third weekly decline, after crude shipments through the strait rose last week to their highest level since the U.S.-Israeli conflict with Iran began in ‌February.

However, traffic has since slowed ⁠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.

"The market is likely to re-evaluate its assumption of a quick recovery of oil supply from the Pe

Fuente original: Yahoo Finance (https://finance.yahoo.com/news/oil-climbs-following-renewed-us-233412520.html)