Commodities
WTI Oil Prices Rebound Amid Geopolitical Risks and Supply Concerns
Oil prices have retreated to around $85.30 as some investors engage in profit-taking after two consecutive days of gains, but the market remains range-bound.
The U.S. Treasury Secretary Scott Bessent announced plans to impose 'the toughest' sanctions on Iran, aiming to weaken its crude oil export capacity by restricting economic activities and limiting participation by trading partners.
The move could tighten global supply, particularly if Iranian exports are affected, and shipping disruptions through the Strait of Hormuz remain a concern.
Iran has warned that further economic pressure could disrupt oil exports through the Strait of Hormuz, which is a critical artery for global energy flows.