The Commodities Feed: US-Iran ceasefire breakdown pushes oil higher

AI Summary

Oil prices have risen as the US-Iran ceasefire appears to be failing, with Brent crude settling 5.2% higher amid further expected price increases following US strikes against Iran. Russia has also banned diesel exports, impacting energy markets.

Energy – Russia bans diesel exports The oil market has continued to rally as the ceasefire between the US and Iran appears to be on life support. ICE Brent settled 5.2% higher yesterday at a little over $78/bbl, with further upside expected today following additional US strikes against Iran in response to its earlier attacks ...