WTI Oil advances on Trump’s Iran shift, rising Hormuz supply risks
The post WTI Oil advances on Trump’s Iran shift, rising Hormuz supply risks appeared on BitcoinEthereumNews.com. West Texas Intermediate (WTI) US Oil trades around $73.10 on Wednesday at the time of writing, up 1.48% on the day, as investors reassess risks to global energy supply following a renewed deterioration in geopolitical conditions across the Middle East. The Oil market is supported by comments from United States (US) President Donald Trump, who confirmed that the memorandum of understanding with Iran aimed at ending the conflict in the Middle East is now over. Speaking from the North Atlantic Treaty Organization (NATO) summit, Trump also said he no longer wants to negotiate with Iran after the latest attacks on commercial vessels transiting through the Strait of Hormuz. Tensions intensified after the US Central Command (CENTCOM) confirmed it had struck Iranian military infrastructure in response to Tehran’s attacks on several commercial ships in the Strait of Hormuz. The strat