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macroJul 15, 2026, 6:14 PM

WTI Holds Near One-Month Highs on Hormuz Supply Risks

West Texas Intermediate crude oil consolidates around $78.70, staying close to a one-month high as Middle East tensions keep the Strait of Hormuz supply disruption risk in focus.

USOIL

West Texas Intermediate (WTI) crude oil is holding near one-month highs on Wednesday, with the commodity consolidating modest losses while remaining supported by geopolitical risks. Prices hover around $78.70, representing an approximate 10% gain from recent lows.

The key driver remains heightened tensions in the Middle East, particularly concerning the Strait of Hormuz. The strategic waterway is a critical chokepoint for global oil shipments, and any potential disruption keeps supply risks elevated. Traders continue to monitor developments for any escalation that could impact crude flows.

Source: FXStreet Forex News