Commodities
WTI Holds Firm Amid Ongoing Energy Supply Concerns
The West Texas Intermediate (WTI) oil price is holding steady at around $82.10, despite some volatility in global energy markets.
Fears of a prolonged energy supply disruption continue to drive up prices, with concerns about the Strait of Hormuz remaining a key tailwind for oil prices.
According to data from Kpler, shipping traffic through the Strait of Hormuz is still significantly lower than pre-war levels, with just six vessels passing through on August 10 compared to an average of around 11 in recent days.
US President Donald Trump has claimed that the US has 'total control' over the Strait, but this assertion has yet to be confirmed.