West Texas Intermediate crude rises to $89.40 per barrel, up nearly $3 from last week’s close, amid geopolitical risks.
West Texas Intermediate crude oil climbed above $89 per barrel on Monday, reaching $89.40 as geopolitical tensions in the Middle East fueled supply concerns. The gain marks a nearly $3 increase from last week’s closing price.
Prices have been volatile in recent sessions, driven by fears of disruptions in key oil-producing regions. Analysts note that escalating conflicts could tighten global supply, supporting higher crude values.
Market participants are closely monitoring developments, with energy futures reacting to updates from the region.