Oil markets recover as geopolitical tensions escalate following reports of secret U.S. military strikes on Iranian targets, pushing Brent crude to $105.26 per barrel.
West Texas Intermediate (WTI) prices recovered to $97.07 per barrel following a Wall Street Journal report detailing secret U.S. strikes on Iran's Qeshm Island. This development introduces a geopolitical risk premium into the market, reversing a portion of the 7% decline observed in the previous session.
WTI is trading at $97.07 per barrel.
Brent crude prices rose to $105.26 per barrel as markets reacted to reports of limited U.S. military strikes against Iranian targets. The news of ongoing secret operations by Washington has prompted traders to price in potential supply disruptions, supporting a rebound in Brent benchmarks.
Brent crude is trading at $105.26 per barrel.
Crude oil prices rebounded after a Wall Street Journal report confirmed U.S. strikes on Iran's Qeshm Island. Brent crude climbed to $105.26 per barrel, while West Texas Intermediate rose to $97.07, recovering from a 7% decline in the previous session.
Oil prices moved higher following a Wall Street Journal report detailing U.S. military strikes on Iran's Qeshm Island, which increased geopolitical risk concerns.