The North Sea crude, a benchmark in Europe, closed the day on the Intercontinental Exchange pricing two dollars above the $67.11 mark with which it ended transactions on Tuesday.
The Brent crude price began the week with gains, nearing the symbolic $70 threshold after Iran suspended cooperation with the UN nuclear watchdog (International Atomic Energy Agency IAEA) and the US and Vietnam reached a trade agreement.
Iranian President Masoud Pezeshkian approved a law today suspending cooperation with the IAEA, according to Iranian media, which will prohibit entry of their inspectors into Iran and expel those currently within the country.
Also announced today was a customs agreement between the US and Vietnam, whereby imports from the Asian state will incur a 20% tariff, rising to 40% when Vietnam acts as an intermediary for third countries. In return, Vietnam grants “full access” to US products.
