Summary
- Brent crude rose above $85 a barrel in intraday trading, reaching its highest level since Aug. 4.
- Supply uncertainty from the Middle East has returned to focus as US-Iran negotiations have made no progress.
- Iran said it is close to an agreement on the reopening of the Strait of Hormuz with Oman, but will not resume direct talks with the US until conditions are met.
Brent crude climbed above $85 a barrel, hitting its highest level since Aug. 4, as stalled talks between the US and Iran renewed concerns over Middle East supply.
Odaily, a media outlet focused on digital assets, reported on Aug. 10 that Brent rose as much as 4.31% intraday to trade above $85 a barrel.
BlockBeats earlier cited Mick Mulroy, a former US Department of Defense official, as saying the US and Iran have made no progress in their negotiations. The two sides remain divided on key issues including the nuclear dispute, security agreements and influence in the Middle East.
Iran said it is close to an agreement to reopen Oman and the Strait of Hormuz, but has maintained that it will not resume direct talks with the US until related conditions are met.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.