Commodities
US-Saudi Strike Drives Oil Prices Higher Amid Global Supply Concerns
The global energy supply remains under pressure after joint attacks by US CENTCOM and Saudi Arabia on Iran-backed military groups in Iraq. The strikes were reportedly in retaliation for planned attacks on US forces and Saudi oil facilities.
This development has contributed to a strong bounce in the price of WTI, which is now trading 3.2% higher at around $81.00.
Investors are also awaiting the Federal Reserve's monetary policy decision, with traders seeing a 69.5% chance that interest rates will remain unchanged.