Source: Reuters (via feed)
Oil prices hovered near seven-month highs on Wednesday amid concerns of a possible U.S.-Iran military conflict. Investors remain cautious because such a conflict could disrupt global supply. Meanwhile, talks between the two countries are scheduled for Thursday.
Despite the upcoming discussions, market participants continue to weigh geopolitical risks. The situation has maintained upward pressure on crude prices. However, any breakthrough in negotiations could influence the market tone.
The threat of conflict has added volatility to energy markets. Therefore, oil prices stayed elevated as traders balanced risk with hopes for a resolution.
BizTrendWire Insight:
Oil price fluctuations reflect geopolitical risks that impact supply stability and influence market dynamics.
Oil price fluctuations reflect geopolitical risks that impact supply stability and influence market dynamics.
