business ⛽ Iran's demands keep oil prices on the rise
Crude oil prices jumped this week following Iran setting six demands for a peace deal with the United States. This tension is happening near the Strait of Hormuz and the Arabian Peninsula. Brent crude was trading at $84.24 per barrel, while WTI was at $78.70 per barrel as of the report. Iran insists the Strait will only reopen if the US agrees to terms like force withdrawal and sanction relief. Consequently, the Strait remains closed, keeping energy prices elevated amidst ongoing Houthi attacks. ⛽