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macroJun 10, 2026, 4:18 PM

WTI Crude Oil Rises 2.33% as Trump Warns Iran, EIA Reports Draw

West Texas Intermediate crude oil climbed around 2.33% to $89.40 on Wednesday, supported by geopolitical tensions after President Trump's warning to Iran and a larger-than-expected US crude stock draw reported by the EIA.

WTI

West Texas Intermediate (WTI) crude oil traded near $89.40 at the time of writing on Wednesday, up 2.33% on the day. The rally was driven by renewed geopolitical tensions in the Middle East after President Trump issued a warning to Iran.

Additionally, the Energy Information Administration (EIA) reported a deeper-than-expected draw in US crude inventories, further boosting prices. The combination of supply concerns and geopolitical risk pushed oil back above the key $89 level.

  • Price: ~$89.40, up 2.33% intraday
  • Catalyst 1: Trump warning to Iran
  • Catalyst 2: EIA reports larger US crude stock draw

Source: FXStreet Forex News