00:00Oil prices have rebounded above $100 a barrel as investors weighed recovering Gulf crude shipments against the lack of an
00:07agreement to end the war with Iran.
00:09Brent crude was up 2.6% at just above $100, while U.S. benchmark West Texas Intermediate rose by
00:17the same amount to around $92.80.
00:20Gulf crude exports have recovered to near pre-war levels, while Saudi Arabia has partially restored its east-west pipeline,
00:28which bypassed the Strait of Hormuz.
00:30Iran said it had received a U.S. response to its offer to reopen the strait in exchange for lifting
00:36the blockade on Iranian ports, releasing frozen assets and easing oil sanctions.
00:42President Masoud Pazeshkan said Tehran would work to reach an agreement.
00:45But Donald Trump said, we blow them up or make a deal, adding that the war would end very soon.
00:53Shipping risks remain high, with three vessels struck in the strait on Tuesday.
00:58European stocks, meanwhile, opened lower as investors weighed higher inflation driven by the energy shock.
