Oil Prices Rebound on Hormuz Uncertainty and Inflation Concerns

Oil prices rebounded sharply after a pullback on Friday, as renewed uncertainty over the Strait of Hormuz and rising inflation concerns kept the outlook fragile.

The price surge occurred despite WTI crude slipping below $100 and Brent dropping below $105 on Friday, with traders taking profits and risk sentiment briefly improving.

However, the recovery was short-lived, and prices quickly rebounded following weekend developments surrounding the Strait of Hormuz, which remain critical to global energy flows.

The planned meeting between Iran and Gulf Arab states in Oman, intended to address shipping restrictions and establish a temporary corridor, has been postponed at the request of regional countries.