Oil prices continued their recent rebound. Earlier, President Donald Trump proposed a new package of demands to Iran, further overshadowing the prospects for an agreement to re-open a key waterway, the Strait of Hormuz. Brent crude oil is close to $90 per barrel, up about 13% from a week ago. Earlier, Iran filed a war compensation claim. The US leader said that requesting Iran to pay compensation for the victims of the conflict will be included in the “all future negotiations.” The US side's position is getting tougher, and the possibility that the US and Iran will reach an agreement to resume shipping along this most important energy route in the world has declined further. Before the war broke out at the end of February, about one-fifth of the world's oil and gas trade was transported through this strait. Ole Hanson, head of commodity strategy at Saxo Bank, said: “Both Trump and Iran are putting forward conditions they know they can never accept. This basically indicates that the blockade will continue for a long time. In this context, the trading logic of bearish oil prices is hardly valid.”

Oil prices continued their recent rebound. Earlier, President Donald Trump proposed a new package of demands to Iran, further overshadowing the prospects for an agreement to re-open a key waterway, the Strait of Hormuz. Brent crude oil is close to $90 per barrel, up about 13% from a week ago. Earlier, Iran filed a war compensation claim. The US leader said that requesting Iran to pay compensation for the victims of the conflict will be included in the “all future negotiations.” The US side's position is getting tougher, and the possibility that the US and Iran will reach an agreement to resume shipping along this most important energy route in the world has declined further. Before the war broke out at the end of February, about one-fifth of the world's oil and gas trade was transported through this strait. Ole Hanson, head of commodity strategy at Saxo Bank, said: “Both Trump and Iran are putting forward conditions they know they can never accept. This basically indicates that the blockade will continue for a long time. In this context, the trading logic of bearish oil prices is hardly valid.”