UNITED STATES – Global energy markets experienced an upward surge today driven by fading expectations of a swift diplomatic deal to reopen the Strait of Hormuz. The U.S. West Texas Intermediate (WTI) and Brent crude futures climbed, with Brent crude surging past USD 87 per barrel. Meanwhile, investor sentiment across global equity markets has cooled down amid the renewed energy-driven inflation concerns. The persistent regional volatility together with the inventory drawdowns continues to establish a higher price floor for oil.
For more information, click here to read more.
(Source: Business Today; The Edge)
