WTI Oil Hits Six-Week High at $86 on Middle East Tensions
WTI crude rose to a six-week high of $86 amid escalating Middle East hostilities and reports of vessels rerouting in the Red Sea.
WTIOIL
WTI oil prices extended their rally on Wednesday, reaching a fresh six-week peak near $86.00. The advance follows escalating tensions between Iran and Israel, raising fears of a wider regional conflict that could disrupt crude supplies.
Additional support came from reports that several tankers have turned around in the Red Sea, avoiding the area due to security concerns. This adds to existing supply constraints and keeps the market on edge.
Source: FXStreet Forex News