Oil prices pares gains after Iran announces end to attacks on Israel (opens original article in a new tab)

Oil prices rose after Iran and Israel halted attacks, but concerns remain over regional tensions and supply disruptions. OPEC+ agreed to increase output, but analysts doubt its impact.

• Iran and Israel halted attacks following Trump's appeal, causing oil prices to rise.
• Brent crude increased 1.3% to $94.25, while WTI rose 0.8% to $91.30.
• OPEC+ agreed to a fourth output increase, but analysts question its effectiveness due to supply constraints.
• Concerns persist over Strait of Hormuz disruptions and regional conflicts affecting global energy markets.