Oil Surges Over 4% on U.S. Inventory Drop
Oil prices surged significantly by over 4%, supported by a decline in U.S. oil inventories, which fell by approximately 3.3 million barrels during the past week. This reflects a market recovery and increased prospects of supply disruptions due to geopolitical tensions between the United States and Iran. The rise followed a previous price decline caused by the suspension of military operations between Washington and Tehran, amid concerns over potential disruptions to oil shipments via the Strait of Hormuz. Market sources indicated that if these risks persist, oil prices could climb higher, with forecasts suggesting levels between $87 and $100 per barrel as security tensions escalate.
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