Oil prices climb as geopolitical risks escalate following US airstrikes in Iran, lifting WTI above $89.00.
West Texas Intermediate crude futures advanced to $89.35 in early Asian trading Thursday, recovering from earlier losses. The move follows fresh US military strikes in Iran, heightening supply disruption fears in the Middle East.
WTI had dipped below $89.00 earlier in the session but rebounded as investors weighed the potential for broader conflict. The benchmark remains below its recent highs but above key support levels, reflecting cautious optimism amid ongoing tensions.
Markets are monitoring developments closely, with crude prices sensitive to geopolitical risks in oil-producing regions.