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WTI Oil Prices Plummet Below $83.00 Amid Middle East Tensions

Guavy AI Editorial Team
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WTI oil prices took an unexpected dip below $83.00 despite rising tensions in the Middle East, which typically boost crude flows and WTI prices.

US President Donald Trump announced on Wednesday that the US would retaliate against Iran following a recent attack on a military base in Jordan.

The Iranian military fired ballistic missiles at a US airbase and command center in Jordan, but all were intercepted by defense systems, according to Bloomberg.

In related news, Yemen's Iran-backed Houthi rebels are tightening pressure on Red Sea oil flows by considering imposing fees on commercial ships passing through the Bab el-Mandeb gateway, linking the southern Red Sea with the Gulf of Aden, as reported by Reuters.

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