Oil prices jump 4% on OPEC+ output talks, Iran tension
Oil prices climbed more than 4% on Tuesday as OPEC+ was nearing a compromise to hold crude production steady in February, while tension simmered following Iran’s seizure of a South Korean vessel.
Brent crude futures rose $2.15, or 4.2%, to $53.24 a barrel by 11:10 a.m. EST (1610 GMT). U.S. West Texas Intermediate crude rose $2.27, or 4.8%, to $49.89 a barrel.
