Commodities
Hormuz Disruptions Keep Geopolitical Premium Embedded in Oil Prices
Oil prices remain near $97 per barrel as concerns about energy supplies due to US-Iran conflict and disruptions around the Strait of Hormuz persist.
The global benchmark Brent crude held steady at $96.69, up 0.43% from earlier Monday, while WTI Crude rose 0.60% to $92.03.
Natural gas prices dropped by 1.5% to $2.929.
The Strait of Hormuz remains a major concern for oil markets, with tanker traffic severely disrupted amid the conflict.
Despite the disruptions, US officials reported that as many as 17 million barrels had transited through the strait on one day.