WTI prices rise amid Iran talks and Strait of Hormuz closure
pre-market1 source ↓written by the desknot a recommendation
- from the EIA
- 8.5 million-barrel US inventory build
Oil prices experienced volatility this week as WTI surged due to Iran's partial closure of the Strait of Hormuz during military drills. The second round of nuclear talks in Geneva showed progress, but key issues remain unresolved. Meanwhile, an 8.5 million-barrel US inventory build from the EIA report adds downward pressure on prices.
Not investment advice. For informational purposes only.