Oil prices rise on heightened Hormuz supply risks
pre-market1 source ↓written by the desknot a recommendation
- oil surged
- $71.84
- for the week
- 4.94%
- Prices fluctuated between
- $67.82
- as traders reacted
- $76.08
WTI crude oil surged to $71.84, up 4.94% for the week ending 10 July, driven by geopolitical tensions in the Middle East. Prices fluctuated between $67.82 and $76.08 as traders reacted to concerns over supply security through the Strait of Hormuz. Despite increased OPEC production and rising U.S. inventories, fears of disruptions are keeping prices elevated.
Not investment advice. For informational purposes only.