Oil Steadies as Middle East Tensions Cloud US-Iran Outlook
Brent traded near $89 a barrel and WTI around $83 as renewed Israel-Hezbollah fighting and tanker attacks near Hormuz reduced expectations for a quick US-Iran resolution.
BRENTWTI
Oil prices steadied after a strong run, with Brent near $89 a barrel and WTI around $83. Crude has gained more than 40% this year.
Renewed Israel-Hezbollah fighting in Lebanon and continued tanker attacks in the Hormuz area raised doubts over a quick U.S.-Iran resolution. That geopolitical uncertainty kept supply-risk concerns in focus, even as the market paused.
Source: First Squawk