Oil prices decline as traders monitor Hormuz situation
pre-market1 source ↓written by the desknot a recommendation
- crude futures falling
- 0.4%
- per barrel
- $107.36
- and WTI
- 0.3%
- per barrel
- $101.91
Oil prices dipped in Asian trade on Wednesday after a three-day rally, with Brent crude futures falling 0.4% to $107.36 per barrel and WTI down 0.3% to $101.91 per barrel. Traders are cautious amid ongoing disruptions in the Strait of Hormuz and the assessment of U.S. inventory data. The geopolitical tensions with Iran continue to impact market sentiment.
Not investment advice. For informational purposes only.