Crude Oil Holds Above $90 as Hormuz Disruptions and US-Iran Tensions Persist
Oil prices continue to trade above $90 per barrel amid ongoing uncertainty surrounding the US-Iran relationship. Investors are closely monitoring the situation around the Strait of Hormuz, a critical global shipping route, as disruptions there weigh on market sentiment. Sporadic conflicts in the Middle East have provided some upward pressure on prices, though the lack of major new escalations has prevented a sharper spike. Adding to regional tensions, the UAE has suspended its financial transactions with Iran. Markets remain cautious as the geopolitical landscape in the region continues to evolve.
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