Commodities
Middle Eastern Tensions Drive Oil Prices Higher
The crude oil market has entered a phase of rising risk premiums due to escalating tensions in the Middle East.
Lately, WTI crude rose to approximately $85.60 per barrel during Asian trading hours, marking its second consecutive day of gains, while Brent crude climbed back above the $90 mark.
The core driver of this rally is the repricing of energy supply risks in the Middle East, particularly military conflicts between the United States and Iran near Larak Island and the Strait of Hormuz.