Oil Prices Extend Gains on Trump’s Iran Counter-Demands

Crude oil prices continued their upward trajectory on Wednesday, supported by geopolitical friction after President Trump presented counter-demands to Iran. The move added to supply concerns, pushing West Texas Intermediate firmly higher.

In broader markets, European equities and bonds were muted in mid-morning trade. The calm reflected cautious positioning ahead of the US Consumer Price Index report, which is expected to influence Federal Reserve policy expectations. Global trade jitters eased, contributing to the steady tone.

Gold held above the $2,050 mark, hovering near a two-month high. The precious metal has found support from safe-haven flows and a soft dollar. Traders now await the inflation data for the next directional cue.