Brent rose above $90 as prospects for a peace deal and reopening of the Strait
of Hormuz dimmed, trading at $91.04 in early European trade, up 0.1%. WTI
futures gained 0.5% to $84.95. Sumitomo Mitsui analyst Soojin Kim said Trump
signaled he is not inclined to extend the lapsed Iran agreement and major
differences remain over the Strait of Hormuz. Shipping-security risk persists as
Houthi forces intensify attacks along Yemen’s Red Sea coast and move closer to
the Bab al-Mandeb.
