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Commodities

WTI Oil Prices Rebound Amid Ongoing Middle East Supply Disruptions

Guavy AI Editorial Team
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Oil
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WTI oil futures regained ground near $80 on Friday, rebounding from a two-day corrective move amid ongoing concerns over energy supply disruptions in the Middle East.

The price of West Texas Intermediate (WTI) crude rose by 0.4% to around $81.40 during early European trading hours, according to NYMEX data.

Analysts at TD Securities believe that fundamental tightness across crude and product markets will continue to support oil prices, despite the recent correction.

The Strait of Hormuz, which accounts for 27% of global energy supply, remains partially closed due to US-led blockades and Iranian-aligned Houthi activity.

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