Both main crude contracts rose on Tuesday, extending the previous day’s jump of more than 2 per cent.
“The calibrated nature of the initial actions suggests neither side is actively seeking a return to sustained conflict, but stalled talks and the strategic importance of keeping the Strait open leave the situation vulnerable to further escalation,” said National Australia Bank’s Rodrigo Catril.
Trump will be meeting oil refining executives on Tuesday in a bid to tame soaring US domestic gas prices that have been a political headache for his Republican Party heading into November’s midterm elections.
Stocks mostly fell, with traders now awaiting…
Read the full article at CHANNELNEWSASIA.COM
