Oil stays above $95 amid US-Iran tensions
Oil prices slightly declined despite the deterioration in the escalation between the United States and Iran, which led to market volatility and fears over Middle Eastern supply. Brent crude contracts fell to around $95.20 per barrel, and West Texas Intermediate to about $90.77, following the most significant exchange of fire between the two sides since July, along with White House claims of targeting Iranian systems. Despite the tensions, oil remained above $95, with expectations that shipping traffic through the Strait of Hormuz would return to previous levels should tensions ease.
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