Commodities
Brent Crude Holds Above $90 as Hormuz Disruptions Continue
Oil prices remained steady above $90 per barrel on Thursday as investors assessed ongoing uncertainty surrounding the US-Iran war and disruptions to shipping through the Strait of Hormuz.
The Brent crude benchmark stood at $92, gaining 38 cents or 0.41% in early trade, while WTI crude was trading at $84.66 a barrel, up 27 cents or 0.32%.
Market sentiment remains supported by sporadic attacks in the Middle East, although the absence of major escalation has limited fresh momentum, according to analysts.
The UAE's decision to suspend all financial and economic transactions with Iran until further notice has added to concerns over relations between the Gulf Arab oil producer and Iran.