Oil prices rise nearly 4% amid Hormuz tensions
pre-market1 source ↓written by the desknot a recommendation
- on Wednesday
- 4%
- crude reaching
- $103
Oil prices surged nearly 4% on Wednesday, with Brent crude reaching around $103. The increase was driven by stalled US-Iran negotiations, as Tehran indicated that the Hormuz Strait would remain closed until its demands are met, overshadowing a surprise US crude build. This geopolitical tension has heightened market sensitivity to any developments regarding the blockade.
Not investment advice. For informational purposes only.