WTI crude edges higher after US and Iran clash over port blockades and missile strikes in critical Middle East waterways.
West Texas Intermediate crude climbed to $82.90, up 0.11% on Wednesday, as geopolitical tensions flared in the Middle East. The US and Iran exchanged claims over control of the Strait of Hormuz, with Washington enforcing a port blockade and Tehran asserting the waterway remains blocked.
Earlier, Iran-backed Houthi rebels attacked a cargo ship in the Bab el-Mandeb Strait, killing six. The US military responded by firing missiles at a vessel allegedly breaching its blockade in the Gulf of Oman. No progress was reported in talks to revive an interim peace deal.
Market reaction remained muted but cautious, with oil prices reflecting supply disruption risks in key transit routes.