Oil Swings Wildly as War Headlines Rattle Markets
WTI and Brent crude traded through a volatile stretch from this week, driven almost entirely by headlines tied to the U.S.-Iran conflict. By Thursday night, June WTI crude was trading at $89.23, up $0.25, or 0.28%. The week started with a sharp rally as supply fears spiked, then shifted into a mix o
WTI and Brent crude traded through a volatile stretch from this week, driven almost entirely by headlines tied to the U.S.-Iran conflict. By Thursday night, June WTI crude was trading at $89.23, up $0.25, or 0.28%. The week started with a sharp rally as supply fears spiked, then shifted into a mix of profit-taking and cautious buying as traders weighed the risk of a longer disruption against the chance of renewed talks. At the center of everything was the Strait of Hormuz, a key shipping route for global oil, and the question of how long those…