Oil prices recover from a two-week low as geopolitical risks in the Middle East drive supply fears.
West Texas Intermediate crude oil prices climbed toward $92.00 on Tuesday, recovering from a two-week low near $88.70. The rebound follows heightened geopolitical risks, including US-Iran tensions and potential disruptions in the Strait of Hormuz.
Prices had dropped sharply on Monday, hitting the $88.75-$88.70 range, but regained traction as traders assessed supply risks. The Strait of Hormuz, a critical chokepoint for global oil shipments, remains a focal point amid regional instability.
No immediate market reaction data was provided, but the recovery suggests renewed investor caution over supply constraints.