Oil price increases amid incompatible US-Iran demands

Oil prices have risen significantly as markets worry about a potential prolonged blockade of the Strait of Hormuz. Brent crude climbed above 90 dollars per barrel, while WTI saw a 2.91 percent increase, following incompatible demands between the US and Iran. Iran is seeking compensation for losses during recent conflicts, a request President Donald Trump has rejected while countering with his own demands for damages related to past attacks. The situation remains tense as the strategic maritime route faces ongoing uncertainty.