West Texas Intermediate (WTI) holds firm on Tuesday after jumping almost 3% the previous day. The lack of progress toward reopening the Strait of Hormuz keeps a geopolitical risk premium in energy markets.
At the time of writing, the US Oil benchmark trades around $84.47 per barrel, hovering near its highest level in over two weeks.
US President Donald Trump said in a Truth Social post on Tuesday that “there are no talks or conversations going on, or scheduled, with the Islamic Republic of Iran,” adding that the US naval blockade “remains in full force and effect.”
However, the US and Iran make conflicting claims about the Strait of Hormuz…
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