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Source:
المشهد العربي
Oil prices climb on military strikes
Oil prices rose during Wednesday's trading session, driven by the ongoing mutual military attacks between the United States and Iran and their impact on global oil supplies. Iran targeted American bases, and the United States responded with airstrikes, accompanied by warnings of escalation that could tighten navigation in the Strait of Hormuz. Brent crude futures increased by 0.80%, reaching $95.41 per barrel, while West Texas Intermediate (WTI) rose by 0.52% to $90.69. Meanwhile, U.S. crude inventories declined by 4.5 million barrels, reflecting sustained strong demand for oil.
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