WTI holds firm as Strait of Hormuz supply risk offsets US inventory build
WTI crude traded around $82.20 per barrel on Wednesday as Middle East supply concerns balanced a sharp rise in US inventories.
WTI
West Texas Intermediate crude traded in a narrow range on Wednesday, with prices around $82.20 per barrel. Traders weighed a sharp increase in US crude inventories against ongoing supply risks in the Middle East.
The inventory build pressured prices, but concerns related to the Strait of Hormuz kept the market supported. The balance left WTI holding firm without a clear directional move.
Source: FXStreet Forex News