Oil climbs after delays reopening Strait of Hormuz route
Business
Oil prices climbed on Monday after delays in reopening the Strait of Hormuz, a key route that carried around a fifth of global oil supplies before the war.
Brent crude hit $84.46 a barrel, up 1.09%, and WTI reached $78.79, up 0.78%, according to Reuters.
Gold steady after US jobs data
Prices had actually dropped over 7% last week when people expected hopes of a deal between Iran and Oman, but the deal was in its final stages because Iran insisted the US must still meet other conditions before wrapping up negotiations.
Meanwhile, gold held steady around $4,345 an ounce after US jobs data showed fewer jobs than expected, helping calm worries about interest rate hikes.
Silver edged up too, while platinum and palladium barely moved.