Crude oil prices rally on US-Iran war worries as Strait of Hormuz remains blocked; Brent above $110 per barrel
Crude oil prices rose on Friday, 1 May, as attempts to resolve the conflict with Iran have stalled, with Tehran continuing to block the Strait of Hormuz and the US Navy restricting Iranian crude exports.
Brent crude futures for July gained $1.19, or 1.08%, reaching $111.59 a barrel by 0149 GMT, while West Texas Intermediate futures rose by 39 cents, or 0.37%, to $105.46.
