Oil prices rise on Strait of Hormuz uncertainty
pre-market1 source ↓written by the desknot a recommendation
- futures increased
- 45 cents
- $91.47
- per barrel
- $85.39
Oil prices surged to a three-week high as uncertainty over shipping through the Strait of Hormuz and ongoing supply disruptions influenced the market. Brent crude futures increased by 45 cents to $91.47, while US West Texas Intermediate rose by 45 cents to $85.39 per barrel. This geopolitical risk premium is keeping prices elevated, with shipping volumes still below normal levels.
Not investment advice. For informational purposes only.