Crude prices extended gains in Wednesday's Asian session after the United States and Iran exchanged strikes, marking a sharp escalation following a period of relative calm. WTI traded near $91.05 a barrel, up 0.92% on the day, while Brent rose 1.19% to $95.68, with both benchmarks now roughly $5 higher since the renewed conflict began.
US Central Command said it had carried out strikes against Iranian air defence sites, radar systems and maritime assets, underscoring the risk of further disruption to shipping and energy infrastructure in the Gulf region.
For traders, the escalation raises the prospect of renewed threats to tanker traffic through the Strait of Hormuz, a corridor critical to global oil and gas flows. Continued military action could sustain the risk premium currently built into prices and increase volatility across energy markets.
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Original note by GIDEX Group based on reporting by Oilprice.com. Written up by the GIDEX market desk — see how these notes are made. Not investment advice.
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