Iran Threat Boosts Oil, Brent and WTI Close Higher
Oil prices ended Wednesday higher as renewed concerns over the Iran war and escalating threats to Middle East energy assets pushed the market’s risk premium back up, even as traders also weighed U.S. supply signals.
At the settlement, Brent rose $5.14 to $108.56 a barrel, while WTI gained $2.17 to close at $98.38 a barrel.
The rally came as markets reassessed the potential for broader disruptions to physical supply. Reuters reported that Iran-linked warnings about possible retaliation and the growing focus on Gulf energy infrastructure reinforced fears that the conflict could extend beyond headline volatility and translate into sustained supply and logistics stress.
Still, the upside was partially tempered by U.S. inventory data. The EIA report showed U.S. crude stockpiles increased more than expected, typically a bearish factor, but the market’s reaction was muted as geopolitics continued to dominate price discovery.
Source : Newsmaker.id
