Oil climbs anew on mixed signals about Iran war's future
Brent crude oil climbed more than 1% to above $110 per barrel when markets opened Sunday amid mixed signals about the Iran war that's creating unprecedented disruption to global energy flows. Why it matters: President Trump is signaling major escalation, but also told Axios' Barak Ravid that the U.S. is in "deep negotiations" with Iran. Trump is threatening to bomb Iran's power plants and bridges starting Tuesday if the regime doesn't open the Strait of Hormuz. The big picture: Markets are also responding to crosscurrents about the Strait of Hormuz and regional infrastructure. Iranian officials say they will exempt Iraq from restrictions and a tanker carrying the nations' crude has reportedly transited the waterway. But specifics and conditions for Iraqi crude remain unclear, per Bloomberg
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