Oil prices rise for fourth consecutive day amid Strait of Hormuz uncertainty
Oil prices have climbed for a fourth straight day, with uncertainty around reopening the Strait of Hormuz keeping upward pressure on global rates.
Oil prices have risen for four consecutive days as negotiations over reopening the Strait of Hormuz remain uncertain. The upward pressure is driving increases in global oil rates. The Japanese yen has continued to weaken as the effects of US intervention fade.
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Pressure on oil prices has been upward
Regarding a deal to reopen the Strait of Hormuz, no news is bad news; oil prices up for a fourth consecutive day, driving up global rates. Yen weakening further as the effect of US intervention continues to fade