The Iran war has brought US oil and gas dealmaking to a standstill after a strong start to the year as volatile crude prices make it difficult to price transactions.
Brent crude futures, the international benchmark, rose 0.9 per cent to $113.24 a barrel at the open of trade in the Asian morning on Monday. West Texas intermediate, the US benchmark, climbed 2.1 per cent to $100.29 a barrel.
US oil and gas dealmaking year to date has reached $45bn, its highest in two years, according to Dealogic data, as a result of the merger between two Permian Basin players Devon Energy and Coterra Energy.
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