Oil up about $5 a barrel on halt in U.S.-Iran talks, risk of blockades
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Article Excerpt
Oil closes up more than 4% on halt in U.S.-Iran talks, risk of blockades
NEW YORK
REUTERS
PUBLISHED JUNE 1, 2026
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Oil prices settled more than 4% higher on Monday after Iran’s Tasnim news agency reported that Tehran had halted indirect negotiations with the U.S. and plans were being made for Iranian forces and their allies to completely block the Strait of Hormuz and potentially disrupt other key shipping routes.
Tensions in the region have escalated in…
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