Oil prices climb for a fourth session amid reduced Strait of Hormuz traffic and stalled U.S.-Iran negotiations.
Brent crude reached $91.53 per barrel as tanker-tracking data showed a slowdown in traffic through the Strait of Hormuz. West Texas Intermediate traded at $85.47, reflecting heightened tensions following the collapse of a June ceasefire deal between the U.S. and Iran.
The gains extend a four-day rally, driven by escalating rhetoric and no signs of renewed negotiations. The June ceasefire expired in early July, with both sides showing no willingness to return to talks, adding to supply concerns in a key oil transit route.
Market focus remains on geopolitical risks, with traders monitoring further developments in the region.