Tehran said on 14 July it was alarming and wrong of Washington to blame Iran for attacks on two oil tankers near the Straits of Hormuz, Reuters reported.

Oil prices settled 2.2% higher on 13 July after the attacks on the two oil tankers.

Brent crude futures settled up $1.34, or 2.23%, at $61.31, having risen as much as 4.5% to $62.64. US West Texas Intermediate crude futures were up $1.14, or 2.23%, at $52.28 a barrel. WTI earlier rose as much as 4.5% to $53.45.

Justin Urquhart Stewart,...

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