Crude oil prices have surged on Wednesday as the U.S. and Iran continued to trade attacks against other, thereby continuing the Middle East conflict while diminishing investors’ expectations on the reopening of the Strait of Hormuz, renewing long-term inflation concerns.
WTI Crude Oil for October delivery was last seen trading up by $2.98 (or 3.20%) at $96.01 per barrel.
On Sunday, in an interview with ABC News, U.S. Energy Secretary Chris Wright stated that the U.S. may not be able to strike an agreement with Iran on its nuclear programs.
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Market Analysis
Crude Oil Soars As Gulf War Intensifies, Leaving The Strait Of Hormuz Closed
2026-09-09 18:35:42
