West Texas Intermediate (WTI) climbed for a third consecutive session, trading near $92.60 per barrel at the time of writing. This price surge follows a fresh escalation of hostilities in the Middle East, where Iran launched ballistic missiles toward neighboring Kuwait and Bahrain. According to ABC News, US Central Command (CENTCOM) successfully intercepted the missile and drone attacks while executing self-defense strikes on Iran’s Qeshm Island.
WTI trades around $90.15, down 0.89% on Tuesday at the time of writing. Iran suspends message exchanges with the US through mediators. Investors await the weekly API Crude Oil inventory report later in the day.