Oil drilling rigs
Oil prices rose in early session today, April 28, as diplomatic efforts to end the military conflict between the US and Iran faltered. The Strait of Hormuz remains almost completely closed, depriving global buyers of vital energy supplies from the Middle East. 
Brent crude was trading up 1.2% at $109.53 a barrel, at 07:58 am Makkah time. West Texas Intermediate (WTI) rose 1.15% to $97.50 a barrel.
US President Donald Trump expressed his dissatisfaction with the latest Iranian proposal aimed at ending the war, according to a US official, while Iranian sources revealed that Tehran’s proposal avoided addressing its nuclear program, Reuters reported.
The US crude oil inventory report from the American Petroleum Institute is expected later today, and the official data would be released by the US Energy Information Administration on April 29.
Oil drilling rigs
Oil prices rose in early session today, April 28, as diplomatic efforts to end the military conflict between the US and Iran faltered. The Strait of Hormuz remains almost completely closed, depriving global buyers of vital energy supplies from the Middle East.
Brent crude was trading up 1.2% at $109.53 a barrel, at 07:58 am Makkah time. West Texas Intermediate (WTI) rose 1.15% to $97.50 a barrel.
US President Donald Trump expressed his dissatisfaction with the latest Iranian proposal aimed at ending the war, according to a US official, while Iranian sources revealed that Tehran’s proposal avoided addressing its nuclear program, Reuters reported.
The US crude oil inventory report from the American Petroleum Institute is expected later today, and the official data would be released by the US Energy Information Administration on April 29.
