Crude oil prices rebound after US statement confusion
pre-market1 source ↓written by the desknot a recommendation
- Texas Intermediate rising
- 6.2%
- $88.59 per barrel
- on Tuesday
- 12% drop
Crude oil prices are rebounding, with West Texas Intermediate rising 6.2% to $88.59 per barrel after a 12% drop on Tuesday. This follows a misleading post by US Energy Secretary Chris Wright regarding US Navy operations in the Strait of Hormuz, which was denied by the White House. The market remains volatile amid discussions by the IEA on potential emergency reserves release.
Not investment advice. For informational purposes only.