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Commodities

US-Iran Tensions Send WTI Crude Prices Soaring

Guavy AI Editorial Team
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Oil
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West Texas Intermediate (WTI) oil prices surged on Wednesday, rebounding from a two-week low as tensions between the US and Iran escalated. The benchmark crude oil price gained around 4% to trade in the mid-$81.00s amid concerns of supply disruptions.

The increase comes after Iran's Islamic Revolutionary Guard Corps launched ballistic missiles at US forces in the Middle East on Tuesday, prompting a warning from President Donald Trump that military operations could resume if negotiations with Iran collapse.

Trump stated that the US would target key Iranian infrastructure, major bridges, and power plants if Tehran fails to reach an agreement. The threat of renewed hostilities adds to market concerns about significant disruptions to global oil supplies, supporting crude oil prices.

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