Oil Prices Hold Firm As US-Iran Ceasefire Expires

Oil prices inched higher as rising U.S.-Iran tensions revived concerns that diplomacy may not reopen the Strait of Hormuz, a critical chokepoint for global energy flows. The headline risk increased supply disruption uncertainty, keeping a mild downside bias on sentiment despite the modest move in prices.

Analysis

Oil prices inched higher as rising U.S.-Iran tensions revived concerns that diplomacy may not reopen the Strait of Hormuz, a critical chokepoint for global energy flows. The headline risk increased supply disruption uncertainty, keeping a mild downside bias on sentiment despite the modest move in prices.