West Texas Intermediate (WTI) crude regained momentum, climbing to over $68 per barrel as rising geopolitical risks in the Middle East spurred concerns over potential disruptions in global oil supplies. The rebound follows a week of heightened market volatility, driven by fears of escalating conflict in the region and its impact on crude flow through critical routes.
Analysts attribute the price recovery to increasing speculation over supply constraints, with traders closely monitoring developments in the Middle East for further signals. Despite the gains, some caution persists in the market, as the broader economic outlook and demand concerns could temper oil’s upward trajectory.
