Oil Prices Rise More than 1% as Middle East Crisis Escalates
Traders priced in a higher risk premium as shipping through the Strait of Hormuz slowed and Russian port disruptions tightened global supply.
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Oil Prices Hold Near Three-Week High as Hormuz Shipping Uncertainty Supports Markets
Oil prices remained near a three-week high on Wednesday as uncertainty over shipping through the Strait of Hormuz and continuing disruptions to global supplies kept ... The post Oil Prices Hold Near Three-Week High as Hormuz Shipping Uncertainty Supports Markets first appeared on [your]NEWS.
"The tensions in the Middle East remain high, leaving room for further interruptions in supply," said Giovanni Staunovo.
President of the United States, Donald Trump, also said he can resume negotiations with Iran "at some point," but not now
Oil prices hovered near three-week highs. Uncertainty surrounding the Strait of Hormuz and supply disruptions are supporting the market. US inventory data will closely guide the market today. Market Summary: Oil prices rose to three-week highs due to uncertainty surrounding the Strait of Hormuz and supply disruptions. Brent crude futures rose 0.85% to $91.79 a barrel; as of 09:48 GMT, WTI futures were up 1% at $85.79. Brent reached its highest l…
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