Crude Oil Soars As Expectations Of U.S.-Iran Peace Talks Diminish

India, Sept. 8 -- Reversing the dip from Friday's session, crude oil prices have surged on Tuesday as expectations over the Strait of Hormuz reopening faded as U.S. forces and Iran continue to trade attacks.

Of note, markets remained closed on Monday on account of Labor Day.

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WTI Crude Oil for October delivery was last seen trading up by $1.31 (or 1.43%) at $92.79 per barrel.

In the Middle East, while the U.S. continues to tighten its naval blockade on Iranian ports, Iran is attempting to seal off the Strait of Hormuz.

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Published by HT Digital Content Services with permission from RTT News....