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Commodities

Middle East Tensions Drive Oil Prices Above $98.50

Guavy AI Editorial Team
Instruments
Oil
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Oil prices continue to rise amid supply fears, with WTI crude oil trading at around $98.60 per barrel during Asian hours on Tuesday.

The price increase comes as traders navigate heightened uncertainty over global supply, particularly in the Middle East.

Saudi Arabia's East-West pipeline remains shut following drone attacks, and a diplomatic meeting between Iran and Gulf Arab states to discuss the situation in Hormuz was abruptly postponed.

Trend-following commodity trading advisors remain heavily committed to the energy complex, with only volatility considerations constraining their positioning.

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Disclaimer: Guavy is a data and market intelligence provider, not an investment adviser. The information, signals, and market analysis provided by the Guavy API and related services are for informational purposes only and are not intended as financial advice, investment recommendations, or an endorsement of any particular trading strategy. Trading in volatile markets, including cryptocurrency, carries significant risk and may not be suitable for all investors. Past performance is not indicative of future results. Users should consult with a qualified financial professional before making any investment decisions. Guavy makes no guarantee of trading profits or financial returns.

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