Oil Holds Gains as Iran-US Tensions Continue
Oil prices continue to rise as developments in the war between the United States and Iran are closely watched, affecting maritime security in the Strait of Hormuz. Brent crude reached $91.97 per barrel, while West Texas Intermediate hit $85.98, marking four consecutive days of gains amid decreased shipping activity through the strait and rising regional tensions. Analyses suggest that the market is currently supported by sporadic attacks, despite the absence of a major trigger for escalation, with the Strait remaining a key factor in determining the future direction of oil prices.
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