Brent climbs to $79.43 as traders weigh durability of US-Iran peace deal (opens original article in a new tab)

Oil prices rose as traders evaluated the potential for a U.S.-Iran peace deal to ease tensions in the Strait of Hormuz, while China's crude oil throughput declined amid ongoing conflicts.

• Brent crude futures rose 0.6% to $79.43 a barrel as traders assess the durability of the U.S.-Iran peace deal
• U.S. West Texas Intermediate crude rose 0.6% to $76.53 a barrel amid uncertainty over the Strait of Hormuz reopening
• China's crude oil throughput fell 9.1% in May to the lowest level in almost four years due to the Iran war