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Oil climbs 5% as Iran, US both demand compensation and Hormuz hopes fade
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Daily Maverick
Brent crude futures LCOc1 settled up $4.17, or 4.99%, at $87.72 a barrel, while U.S. West Texas Intermediate crude futures CLc1 closed $3.95, or 5.05%, at $82.13.
Tehran will not start them while Washington is in breach of an interim deal signed in June, Iranian Foreign Minister Abbas Araqchi said on Sunday.
"With Iran making the added demands, most traders feel near term, tighter supplies are more probable for longer," Kissler added.
In a further threat to supply, the Iran-aligned Houthis said they had struck Saudi Aramco's 2222.SEJazan refinery on Sunday.
Ukrainian strikes hit the Taneco oil refinery in Tatarstan and the ZapSibNeftekhim petrochemical plant in Russia's Tyumen region.