Brent climbs to $79.43 as traders weigh durability of US-Iran peace deal

Brent crude futures rose 47 cents or 0.6 percent to $79.43 per barrel, while US WTI climbed 48 cents or 0.6 percent to $76.53, as traders weighed the durability of a US-Iran interim peace deal that could reopen the Strait of Hormuz to oil flows. Both benchmarks had earlier fallen about 5 percent for a second straight session to three-month lows on hopes the agreement would hold. Separately, China crude oil throughput in May fell 9.1 percent year-on-year to its lowest in nearly four years, while US crude stocks dropped 8.3 million barrels in the week ended June 12, exceeding expectations.