By Georgina McCartney
HOUSTON, June 29 (Reuters) - Oil prices gained more than 1% on Monday after attacks by the U.S. and Iran underscored the fragility of their interim peace deal, while cautious hopes of a continued recovery in energy shipping through the Strait of Hormuz limited gains.
Iranian and U.S. technical teams working on the implementation of an interim peace deal are expected to meet in Doha in the coming days, a source told Reuters on Monday, after the ***** -for-tat weekend strikes threatened to derail the accord.
Brent crude futures were up 90 cents, or 1.25%, at $72.89 a barrel by 11:36 a.m. EDT (1537 GMT). U.S. West Texas Intermediate crude gained $1.20, or 1.73%, to $70.43.
Brent crude fell 10.6% last week in a third consecutive weekly decline after crude shipments through the strait rose to their highest since the U.S.-Israeli war on Iran began in late February.
HOUSTON, June 29 (Reuters) - Oil prices gained more than 1% on Monday after attacks by the U.S. and Iran underscored the fragility of their interim peace deal, while cautious hopes of a continued recovery in energy shipping through the Strait of Hormuz limited gains.
Iranian and U.S. technical teams working on the implementation of an interim peace deal are expected to meet in Doha in the coming days, a source told Reuters on Monday, after the ***** -for-tat weekend strikes threatened to derail the accord.
Brent crude futures were up 90 cents, or 1.25%, at $72.89 a barrel by 11:36 a.m. EDT (1537 GMT). U.S. West Texas Intermediate crude gained $1.20, or 1.73%, to $70.43.
Brent crude fell 10.6% last week in a third consecutive weekly decline after crude shipments through the strait rose to their highest since the U.S.-Israeli war on Iran began in late February.
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