Oil prices rebounded from the previous session's losses as traders weighed renewed threats to shipping through the Hormuz Strait against a recovery in Middle East oil exports.
Concerns over potential disruptions in the strategic waterway, coupled with attacks targeting Saudi Arabia, supported upward pressure on crude markets despite signs of improved supply flows from the region.
Market watchers said the price recovery highlights the fragile balance between geopolitical risk and supply-side fundamentals in the global oil market.
Source: Wall Street Journal US Business · Summarized by HeadlinesBriefing