empty
 
 

2026.03.1819:07:53UTC+00Crude Oil Holds Firmly Above $97.3

WTI crude oil futures reversed earlier losses on Wednesday to trade back above $97.30 per barrel, as mounting geopolitical risks and structural supply disruptions in the Middle East outweighed aggressive federal measures aimed at stabilizing U.S. fuel markets. The intraday rebound came on the heels of reports of U.S.-Israeli airstrikes on Iran’s South Pars gas field, which reignited concerns over a prolonged energy shock despite President Trump’s issuance of a 60-day Jones Act waiver.

Initially, prices came under pressure from a 6.2 million-barrel build in crude inventories and the Federal Reserve’s hawkish decision to hold rates in the 3.5%–3.75% range. However, the effective closure of the Strait of Hormuz has continued to support higher energy prices. While releases from strategic reserves and a 63,000-barrel-per-day increase in domestic refinery runs offer some technical relief, the December contract retains a substantial risk premium amid Tehran’s threats of retaliation following the killing of intelligence minister Esmaeil Khatib.

  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $8000 more!
    In March we raffle $8000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS


Can't speak right now?
Ask your question in the chat.
Widget callback