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The Nexus
BUSINESSAug 20 · 11:50 UTCQUARTZCris Tolomia

Oil surges to three-week high as Iran war stalemate and UAE trade freeze tighten supply

Brent crude surged to a three-week high, rising above $94 a barrel on Thursday. This price surge was attributed to factors that tightened global oil supply. Specifically, deadlocked peace talks and the UAE's suspension of trade with Iran kept supply under pressure.

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Oil surges to three-week high as Iran war stalemate and UAE trade freeze tighten supply · The Nexus