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Commodities

Iran-US Tensions Fuel WTI Oil Price Surge

Guavy AI Editorial Team
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Oil
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West Texas Intermediate (WTI) oil prices rose to nearly $87 on Tuesday as tensions between the United States and Iran escalated, threatening global supply.

The price hike was driven by renewed hostilities between the two countries, with US forces striking Iranian rocket launchers in the Strait of Hormuz on Sunday.

The situation remains tense, with President Trump warning that further military action is possible and hinting at a limited response to Iran's attacks.

Russian refineries have also been targeted by Ukrainian drones and missiles, adding to concerns over refined-product supplies and pushing up refining margins.

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