WTI oil price rises despite diplomatic progress in Middle East
West Texas Intermediate oil price appreciates after registering over 5% losses in the previous day, trading around $75.00 per barrel.
The price increase comes despite diplomatic momentum building around a potential agreement to reopen the Strait of Hormuz.
Qatari officials announced an interim proposal had been drafted, with both Washington and Tehran signaling progress toward restoring access to the critical maritime transit route.