Oil prices rise amid US-Iran tensions
after close1 source ↓written by the desknot a recommendation
- inventories fell
- 328k barrels
- expectations
- 74k-barrel draw
Oil prices increased for the fourth consecutive session on Wednesday, driven by ongoing uncertainty from the US-Iran conflict. Reports of reduced vessel traffic through the Strait of Hormuz raised concerns over potential supply disruptions. Additionally, US crude inventories fell by 328k barrels, exceeding expectations for a 74k-barrel draw.
The market remains sensitive to geopolitical tensions, which may continue to support risk premiums in oil trading.
Not investment advice. For informational purposes only.