Dossier
US West Texas Intermediate
Coverage of US West Texas Intermediate in the Nexus archive.
- Oil prices rise after vessel targeted near Strait of Hormuz
Oil prices rose about 2 percent on 26 June after a cargo ship was struck by an unidentified projectile near Oman, raising concerns about security in the Strait of Hormuz and the recovery of regional oil exports. Brent crude and US West Texas Intermediate both saw significant gains following a prior decline to their lowest levels since 27 February.
- Oil prices slip to their lowest since March as US, Iran reach preliminary agreement to reopen Hormuz
Oil prices fell to their lowest since March as the US and Iran announced a preliminary agreement to reopen the Strait of Hormuz. The deal, set to be signed in Switzerland, aims to restore oil flows through the critical chokepoint and end a naval blockade.