Brent Crude Holds Above $91.85 on Hormuz Conflict
Brent crude briefly traded above $91.85 per barrel, the highest in more than three weeks, as the Strait of Hormuz conflict kept oil prices elevated, BNY’s Geoff Yu noted.
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Oil prices remain supported by the ongoing conflict around the Strait of Hormuz, keeping Brent crude elevated.
BNY’s Geoff Yu noted that Brent briefly rose above $91.85 per barrel, the highest level in more than three weeks. The move reflected market unease over the potential for a rapid reopening of the Strait of Hormuz, a key chokepoint for global crude flows.
Source: FXStreet Forex News