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macroJul 8, 2026, 12:43 AM

WTI Surges After US Airstrikes on Iran

West Texas Intermediate oil prices climbed further in Asian trading, approaching $72.20 per barrel after gaining nearly 5% the previous day, driven by fresh US airstrikes on Iran.

WTI

West Texas Intermediate (WTI) crude oil extended its rally during Asian hours on Wednesday, trading around $72.20 per barrel after posting a near-5% surge the prior session.

The move follows news of renewed US airstrikes on Iran, which stoked supply disruption fears in the Middle East. The geopolitical risk premium is adding upward pressure on crude benchmarks.

Traders are now watching for further escalation and any potential impact on oil shipments from the region. WTI has recovered sharply from recent lows as risk appetite in the commodity space improves.

Source: FXStreet Forex News