WTI Oil Prices Muted After Volatile Day Amid Escalating Tensions

West Texas Intermediate (WTI) oil prices remained muted near $83 per barrel after rebounding sharply from an intraday low of $78.90.

The price consolidation comes after a volatile day in which crude prices rose sharply during the early American session on Wednesday, following attacks by Saudi Arabia and the United States against Iran-aligned groups in Iraq.

The escalating tensions between the US, Saudi Arabia, and Iran raise concerns about potential disruptions to regional oil supplies.