WTI Crude Oil Price Hovers Near Three-Week High Amid US-Iran Tensions
West Texas Intermediate (WTI) crude oil prices are hovering near a three-week high, but struggling to break above $85.00.
The commodity's positive bias continues for the fourth straight day, fueled by geopolitical uncertainties stemming from the US-Iran standoff.
US President Donald Trump posted a map on Truth Social showing the strategic Strait of Hormuz as new US territory and confirmed that the naval blockade of Iranian ports remains in full force.
This keeps the war-risk premium in play, supporting WTI's near-term outlook.