OIL RALLY BUILDS AS SUPPLY RISKS MOUNT WTI climbed 1% to $102.40, holding near recent highs as Middle East supply concerns persist. Shippin…
OIL RALLY BUILDS AS SUPPLY RISKS MOUNT
WTI climbed 1% to $102.40, holding near recent highs as Middle East supply concerns persist.
Shipping through the Strait of Hormuz has declined, while Saudi pipeline disruptions and uncertainty over the Russia-Ukraine energy truce support prices.
Crack spreads remain strong, and WTI’s technical trend is bullish.
Market angle: a break higher could put $106.98 in focus.