Oil prices rise for fourth day amid US-Iran tensions, Strait of Hormuz risks

Oil prices have continued to rise for a fourth consecutive day, fueled by ongoing geopolitical tensions between the United States and Iran. The lack of progress in resolving the conflict has contributed to market concerns about potential disruptions in Middle Eastern supply routes. Brent crude recently reached $91.14 per barrel, while West Texas Intermediate (WTI) was priced at $85.04, nearing recent highs. The situation around the Strait of Hormuz, where shipping constraints remain, has amplified supply-risk pricing, as US forces have been involved in redirecting commercial vessels. Meanwhile, OPEC has revised its oil-demand growth forecast downward, adding another layer of complexity to the market dynamics. Key Takeaways Oil prices appear to be rising due to continued US-Iran tensions, with no diplomatic resolution in sight. Market behavior suggests that the unresolved conflict is exerting upward pressure on global crude oil benchmarks. The current pricing environment is consistent with a scenario where geopolitical risks keep supply routes in the Middle East uncertain. What to Watch Observers should monitor any developments in the US-Iran conflict and potential diplomatic effort...