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Intl Oil Prices Pick Up as Iran Reportedly Insists on Keeping Enriched Uranium Domestically
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International oil prices picked up today (22nd) after sinking for three trading days. Although the US claimed that a US-Iran peace agreement is imminent, report said Iran's leadership insists on keeping enriched uranium within the country, sparking market concerns over the likelihood of reaching a peace deal. Brent oil futures for July delivery leaped 2.28% to USD104.93 per barrel, while New York oil futures for July delivery gained 1.72% to USD98.01 per barrel. Iran's Supreme Leader Mojtaba Khamenei ordered a ban on transferring Iran's near weapons-grade uranium abroad. The International Energy Agency (IEA) warned that, with summer travel demand increasing, global oil inventories may soon be depleted. The most important solution to address the energy shock wrought by the Iran conflict is the full and unconditional reopening of the Strait of Hormuz. AASTOCKS Financial News |
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