Oil Extends Gain, Iran Says Deal With Oman Is Close

AI Summary

Oil prices extended gains as Iran nears a deal with Oman to manage shipping through the Strait of Hormuz, a critical energy transit chokepoint. Market traders are closely monitoring details of this potential agreement and its implications for oil flow and regional stability.

Oil extended gains as traders watched for details of an Iranian deal with Oman to manage shipping through the Strait of Hormuz. Bloomberg's Michael Heath shares what we know so far. (Source: Bloomberg)