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Oil Prices Extend Gains on Supply Worry ...Middle East
Crude oil prices extended their climb that began Monday as concerns about supply security deepened. At the time of writing, Brent crude was trading at $64.85 per barrel and West Texas Intermediate was changing hands for $62.82 per barrel, after rising by about 3% on Monday, per Reuters. The benchmarks reacted to the latest escalation between Russia and Ukraine, which many seem to expect to spread to Russian oil targets, and to a report saying Iran was about to reject a U.S. proposal for a nuclear deal that would require Tehran to stop any uranium…
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