Oil Rebounds from Three Week Low as Hormuz Tensions Keep Supply Fears Alive The oil market's recent volatility is a stark reminder that even in times of relative stability, global tensions can swiftly disrupt the delicate balance of supply and demand.
The Brent crude price rebounded by 0. 58% to $84. 26 a barrel, while WTI crude advanced by 0. 51% to $80. 75 a barrel.
The Strait of Hormuz, the world's most critical chokepoint for oil exports, remains a hotbed of contention between the United States and Iran.