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macroJul 8, 2026, 12:49 PM

WTI Oil Rises as Trump’s Iran Policy Shift Stirs Middle East Supply Concerns

West Texas Intermediate crude climbed to around $73.10, up 1.48%, as traders reassess supply risks following renewed Middle East tensions tied to US policy changes on Iran.

USOIL

West Texas Intermediate (WTI) crude oil traded near $73.10 on Wednesday, gaining 1.48% as geopolitical risks in the Middle East regained focus. The move follows a reported shift in US policy toward Iran under President Trump, raising the possibility of tighter sanctions or military escalation that could disrupt oil flows from the region.

Market participants are now pricing in a higher probability of supply constraints given the strategic importance of the Strait of Hormuz and Iran's role in the global oil market. The advance comes after a period of relative calm, with traders quickly adjusting positions to reflect the deteriorating security outlook.

Source: FXStreet Forex News