Oil Prices Rise Amidst Uncertainty Over US-Iran Deal and Strait of Hormuz Supply

New York. International market oil prices rose again on Tuesday as detailed information about the preliminary agreement to end the war between America and Iran was not clear and it appeared that oil supply from the world's major waterway, the Strait of Hormuz, would take longer than expected to resume. Due to this concern in the market, the price of Brent crude futures increased by 26 cents per barrel, or 0.3 percent, to $83.42. Similarly, the price of American West Texas Intermediate (WTI) also increased by 46 cents per barrel, or 0.3 percent, to $81.12.Earlier on Monday, after US President Donald...