Oil prices edged up slightly in choppy trade on Tuesday after rising over 1 percent in the previous session following a U.S. advisory warning of potential supply disruptions in key shipping routes.
Amid ongoing tensions between Washington and Tehran, the U.S. Department of Transportation’s Maritime Administration on Monday advised U.S.-flagged vessels travelling through the Strait of Hormuz to stay away from Iranian territory.
The agency also urged the captains of the ships against granting Iranian forces permission to board U.S. vessels.
Benchmark Brent crude futures rose half a percent to $69.36 a barrel while WTI crude futures were up 0.4 percent at $64.59.
A weaker dollar offered some support after China reportedly urged curbs on U.S. Treasury holdings.
Investors are bracing for U.S. retail sales, jobs and inflation readings this week that could influence the timetable of the Federal Reserve’s next interest-rate cut.
U.S-Iran tensions were also in focus, with Iran warning of “destructive” influence on diplomacy ahead of Israeli Prime Minister Benjamin Netanyahu’s visit to Washington this week.
During his visit, Netanyahu is expected to press U.S. President Donald Trump to expand the scope of ongoing high-stakes nuclear talks with Iran. The possibility of additional military action against Iran is also expected to be discussed.
Elsewhere, the United States military has announced seizing a Venezuela-linked vessel in the Indian Ocean on accusations it defied its blockade of Venezuela.
Oil Edges Up In Choppy Trade With US-Iran Tensions In Focus
2026-02-10 09:28:02
