Brent Oil Pauses Around $78, Hormuz Spike Capped by Supply Moves
Oil hovered just below $78 a barrel on Thursday. A new U.S.-Iran spat shook up some nerves but didn’t drive traders to rethink Gulf risk. Front-month Brent was last at $78.11 at 11:19 BST, 9 cents higher. U.S. West Texas Intermediate traded at $73.49 at 5:56 a.m. EDT, down 3 cents.