Oil Gains as Traders Take Stock of Iran Tensions and Stockpiles

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000Storage tanks at the Port of Richmond in Richmond, California.Oil climbed for a second day as traders focused on tensions between the US and Iran that have overshadowed signs of swelling supplies.Brent rose toward $70 a barrel, after gaining almost 1% on Wednesday, with West Texas Intermediate near $65. While US President Donald Trump signaled his goal was to reach a nuclear deal with Tehran — commenting after talks with Israeli Prime Minister Benjamin Netanyahu — traders remain concerned about the potential for military strikes and risks to supply.