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Commodities

WTI Prices Rebound on Geopolitical Tensions

Guavy AI Editorial Team
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Oil
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West Texas Intermediate (WTI) crude oil prices have staged a modest recovery from a two-week low of nearly $91.00, reached on Monday.

The geopolitical risk premium remains in play, lending support to the commodity, as tensions in the Middle East persist.

Iran's Islamic Revolutionary Guard Corps (IRGC) warned that it would change the geography of the war if the US escalates the conflict.

Despite improving shipments through the Strait of Hormuz and rising hopes for US-Iran talks at the UN General Assembly, crude oil prices remain supported by structural levels.

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