Asia
Oil Surges as U.S.-Iran Peace Hopes Fade — What Happens If the Strait of Hormuz Stays Shut?
Oil prices climbed for a third consecutive session on Tuesday as hopes for a lasting U.S.-Iran peace agreement weakened, reviving fears that disruptions around the strategically vital Strait of Hormuz could keep global energy supplies under pressure. Brent crude futures rose 89 cents to $91.76 a barrel, reaching their highest level since July 30, while U.S. West Texas Intermediate (WTI) crude gained $1.05 to $85.55 a barrel, its highest level since July 31. The latest rally came after Iran sig
