WTI Oil climbs as Middle East supply risks remain evelated
West Texas Intermediate (WTI) Oil edges higher on Monday as fresh attacks by the United States and Iran over the weekend add to already elevated supply concerns from the months-long war in the Middle East. At the time of writing, WTI trades around $91.15 per barrel, its highest level since July 24.
WTI Oil prices rose on Monday amid heightened tensions and ongoing supply risks stemming from the Middle East conflict. The United States and Iran engaged in cyber warfare, striking vessels in the Gulf of Oman and the Strait of Hormuz. WTI crude traded near $91.15 per barrel, marking its highest level since July 24. Despite OPEC+ maintaining its Oil output policy unchanged, the lack of new supply boost contributes to potential volatility in the Oil market.
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Also reported by 2 other outlets
- Oil prices rise to six-week highs on worsening Middle East conflict businesstimes.com.sg
- Oil prices rise to six-week highs on worsening Middle East conflict channelnewsasia.com
